America's Children

The America's Children is working to ensure that your children have access to affordable, quality afterschool programs. Afterschool programs are critical to your children and families today, yet the need for programs is far from being met. Show you how we all can come together!! Learn more

We aim to be leading tech-enabled education services company: Srikanth B Iyer

With British publishing and education conglomerate Pearson Plc completing the acquisition of TutorVista, it has appointed Srikanth B Iyer as the new chief executive officer. This consolidation and investment seem to show Pearson’s keenness in the Indian education market. The company says this move forms part of a wider strategy of building significant education services businesses in fast-growing emerging markets. Iyer tells Praveen Bose how Pearson aims to establish itself.

What will be the immediate focus of Pearson after completion of the acquisition of TutorVista?
Our immediate focus after completion of the acquisition process would be to consolidate our investments and ensure their growth by investing more in our core areas of direct delivery and educational products and services. We have been working towards creating customised technological innovations in the areas of school management services, online tutoring, ICT (information and communication technology) solutions, technology-aided coaching classes and test preparation services. We aim to establish ourselves as the leading technology-enabled education services company in India, offering global standards of learning to Indian students at affordable prices.

You will not have the guidance of a reputed entrepreneur like K Ganesh, who has built up the business over the past many years. How do you plan to fill the vacuum?
I have worked very closely with Meena and Krishnan Ganesh for the past six years and it is indeed very difficult to find a replacement for entrepreneurs like them. They were excellent leaders with incredible vision and their presence will definitely be missed.

I believe our business has traversed three phases in the past 13 years. The first phase was conceived when I co-founded Edurite Technologies, an e-learning company which provided content to students through CD-ROMs. The company went on to enjoy high institutional sales in India and abroad, and branched out to the retail and tutorial segments.

The second phase of our journey began when Edurite was acquired by the global online tutoring company, TutorVista. TutorVista’s phenomenal growth story, expansion into various segments of the educational space and subsequent acquisition by Pearson was a propitious sign of our future. We are entering the third phase of the business now as we align ourselves with the global Pearson goals and strategies and focus on achieving aligned objectives rather than entrepreneurial objectives. Being an information technology entrepreneur for the past 20 years, I have been at the helm of all these phases and the inspiring success story of our business. We are further aided by the fantastic leadership we have at Pearson International and the guidance and support of their senior management.

What are the expansion plans in India through TutorVista?
The focus areas for Pearson in India will be, direct delivery and offering a suite of products and services. We currently manage and run 35 schools across India and plan to grow this at a rapid pace. We also are a dominant player in the business of offering technology-enabled products and services to schools and will continue to be active in this segment.

As part of your India focus, will you partner more government schools and agencies to expand your base in the country?

In India, the government is the largest spender on education. We would definitely see a lot of benefit in government schools using our regional language multimedia content and related services. So we will be very keen to ensure that our products especially in regional mediums of instruction reach as many government schools as possible.

Are you planning to diversify into online certification, professional coaching and other e-learning models?
Pearson worldwide is a leader in online certification and assessment and I would be very keen on bringing these best practices and services to India.

As the education sector in the country is growing at a rapid pace, will you be looking more at inorganic route to growth?
Pearson is very clear about the potential of the Indian education system. But it will be premature to comment on anything related to inorganic growth.

Will the TutorVista brand be retained?
TutorVista has achieved significant popularity in the US markets, which we definitely want to capitalise on. So yes, it will be retained.

Article source: http://www.business-standard.com/article/companies/we-aim-to-be-leading-tech-enabled-education-services-company-srikanth-b-iyer-113030200308_1.html

Purchasing Power Launches Learning Solutions

ATLANTA, Nov. 5, 2012 /PRNewswire/ – Employers searching for ways to enhance benefits packages while at the same time controlling costs now have a new voluntary benefit option. Purchasing Power has added Learning Solutions to the comprehensive line of products and services available through its employee purchase program. Learning Solutions enables employers to provide educational opportunities for employees and their families, while giving their team a better, more affordable way to pay for education without building debt.

Employees and their families can choose from a variety of online education options offered through Learning Solutions including college courses; SAT and ACT test preparation and tutoring courses; professional certifications; and high school and career diplomas. These programs are paid for by employees through convenient payroll deductions over 12 months, providing a responsible way to budget, and the opportunity to graduate debt-free.

“According to The Project on Student Debt, two-thirds of college seniors who graduated in 2011 had an average of $26,600 in student loan debt,” says Richard Carrano, President and CEO, Purchasing Power. “For 11 years we’ve been providing employees with an alternative way to purchase computers, tablets and other technology needed to support online education. With Learning Solutions we now offer the online education courses with our budget-friendly way to pay, so employees have a better chance to graduate debt free.”

Purchasing Power is partnering with three leading online learning institutions – The Princeton Review, Penn Foster and StraighterLine – to offer these programs at competitive prices which are then paid for over 12 months of installments through their company’s payroll deduction program.

The Princeton Review provides college-bound students with SAT and ACT test-preparation services, tutoring and admissions resources. Options include self-guided online test prep, instructor-led LiveOnline courses, and LiveOnline one-on-one tutoring.

Students can also start college affordably by completing their first year courses online and then transferring credits through StraighterLine to 36 accredited partner colleges and thousands of other colleges who award credit for their ACE evaluated courses.

Employees can invest in their future and advance their career by earning a high school diploma, gaining certificates or receiving their college degree through Penn Foster. More than 35 professional certificates (such as accounting essentials, web page design, e-business management and Adobe Photoshop) and career diplomas (including auto repair technician, child day care, physical therapy aide and residential electrician) are available through their online courses. Also offered through Penn Foster are undergraduate certificates, associate degrees and bachelors’ degrees.

Learning Solutions is offered as a service in the Purchasing Power employee purchase program, to complement computers, electronics, furniture and other items. Customers choose the educational program that meets their needs by placing an order on the Purchasing Power website. After an order is placed and processed, customers are emailed a voucher and instructions for registering on the respective service provider’s website to begin using their service.

“Empowering employees with education benefits is a valuable addition to a benefits package and enables companies to show they truly value their employees and their futures,” Carrano concludes. “We are proud to now offer employees access to everything they need for successful online education, at no cost to the employer.”

About Purchasing Power, LLC

Headquartered in Atlanta, GA, Purchasing Power, LLC was founded in 2001 and offers customers an alternative to purchase a variety of name brand products and services and pay for them over 12 months through payroll deduction. Purchasing Power differentiates itself from traditional e-commerce retailers through its unique payment plan value proposition, strategic benefit broker partnerships, internal marketing expertise and superior customer service. Purchasing Power is a Rockbridge Growth Equity, LLC Company. The company has serviced more than 800,000 orders for employees of companies and organizations, including Fortune 500 and government agencies. For more information, visit http://www.purchasingpower.com/employers/product-services-catalog/

Media Contact:
Diana Mulhall
Purchasing Power
404-609-5030 dmulhall@purchasingpower.com

SOURCE Purchasing Power, LLC

Article source: http://www.itnewsonline.com/showprnstory.php?storyid=242350

Purchasing Power Launches Learning Solutions

ATLANTA, Nov. 5, 2012 — /PRNewswire/ – Employers searching for ways to enhance benefits packages while at the same time controlling costs now have a new voluntary benefit option. Purchasing Power has added Learning Solutions to the comprehensive line of products and services available through its employee purchase program. Learning Solutions enables employers to provide educational opportunities for employees and their families, while giving their team a better, more affordable way to pay for education without building debt.

About Purchasing Power, LLC

Media Contact: Diana Mulhall Purchasing Power 404-609-5030 dmulhall@purchasingpower.com

SOURCE Purchasing Power, LLC

Order Reprint

Article source: http://www.sacbee.com/2012/11/05/4961975/purchasing-power-launches-learning.html

EdServ Takes Its Android Education App Synced With Social Networking To Amazon …

Chennai-based education support services company EdServ has tied-up with Amazon.com to take its 2tionPlus educational apps to Amazon app store. Through the tie up, EdServ’s education content will be available worldwide on Tablet PCs, which run on Google’s Android operating system, the company said on Monday.

EdServ’s 2tionPlus is a social networking collaborative learning application through which students will be able to avail the support of over 30,000 tutors. Through 2tionPlus, students can create study groups and undertake collaborative learning.

Digital whiteboard is available in online tutoring whereby students can attend an online class even on the move. 2tionPlus claims to have over a million embedded videos categorically arranged on subjects.

“Through this tie up with Amazon.com, we will provide the entire online education content that includes tuition, academics, skill development and test preparation services on the Amazon apps store,” said S Giridharan, EdServ’s chairman and CEO.

While downloading and installing 2tionPlus will be free, the users will have to pay a fee for the premium content available on EdServ’s lampsglow.com website, the official release said.

In the premium category, all services listed on Lampsglow.com are featured. These include solutions for K-12 students and others preparing for various entrance exams, as well as specialised skills development and courses for job seekers. Also, free-of-cost standard services include over one million embedded videos, arranged by subjects/topics. In addition, students can download the 2tionPlus app to create study groups and opt for collaborative learning.

This tie up with Amazon follows EdServ’s tie up last year with global mobile brands such as Blackberry, Nokia and Samsung to make its educational content available on smartphones. According to the company, over half of the users are from the mobile segment.

Article source: http://techcircle.vccircle.com/500/edserv-takes-its-android-education-app-synced-with-social-networking-to-amazon-app-store/

WASHTENAW COUNTY EMPLOYEES’ RETIREMENT SYSTEM v. PRINCETON REVIEW, INC.

Roth Capital Partners, LLC, Defendant, represented by James R. Carroll, Skadden, Arps, Slate, Meagher Flom, Michael S. Hines, Skadden, Arps, Slate, Meagher Flom LLP William B. Brady, Goodwin Procter LLP.

This federal securities class action was brought on behalf of purchasers of common stock of The Princeton Review, Inc. (TPR), in or traceable to TPR’s offering of securities on April 15, 2010 (the Offering) under sections 11, 12(a)(2), and 15 of the Securities Act of 1933. TPR, the individual defendants,¹ and Roth Capital Partners, LLC (Roth Capital), have moved to dismiss the Amended Complaint filed by lead plaintiff Washtenaw County Employees’ Retirement System (WCERS) for failure to state a claim upon which relief can be granted pursuant to Fed. R. Civ. P. 12(b)(6).² For the reasons to be stated, defendants’ motion to dismiss will be granted.TPR was founded in 1981 to provide classroom-based and online test preparation courses for post-secondary and graduate admissions tests. Am. Compl. ¶ 26. At the time of the Offering, TPR operated through three divisions: (1) the Test Preparation Services division (“Test Prep”), which provided live and online test preparation courses, as well as individual and small group tutoring; (2) the Penn Foster division, acquired in December of 2009, which provided accredited, career-focused online degree and vocational programs; and (3) the Supplemental Educational Services (“SES”) division, which provided tutoring and other services under the No Child Left Behind Act of 2001. See id. ¶¶ 27-30. TPR’s competitors in the Test Prep market were (and are) Kaplan, Revolution Prep, and other local providers. Id. ¶ 62,In 2009, TPR’s financial results reflected an improved all-around performance. In March of 2009, for the year ending December 31, 2008, TPR reported a net profit from continuing operations of $1.3 million, up from a loss of $31.4 million in 2007, with an increase in gross revenues of 25.5% over 2007 to $138.8 million. Id. ¶ 38. In May of 2009, TPR reported that first quarter revenues had increased 25.5% to $44.8 million from $35.7 million during the same period in 2008, with a net profit from continuing operations of $2.2 million as compared to $0.3 million during the same period in 2008. Id. ¶ 41. In August of 2009, for the first six months of 2009, TPR reported a 9.3% increase in gross revenues to $76.3 million as compared to $69.8 million for the same period in 2008. Id. ¶ 44. In November of 2009, for the third quarter, TPR reported gross revenues of $34.3 million as compared to $34.7 million for the same period in 2008. Id. ¶ 49. TPR released its full year 2009 results in March of 2010, reporting that its revenue increased 3.4% over 2008, to $143.5 million as compared to $138.8 million. Id. ¶ 52. In press releases and earnings calls in 2009 and early 2010 (prior to the Offering), Perik touted the success of TPR’s turn-around effort, and TPR’s optimistic outlook over its position in the Test Prep marketplace. See id. ¶¶ 38-39, 41-42, 44-45, 49-54.

Article source: http://www.leagle.com/xmlResult.aspx?xmldoc=In%20FDCO%2020120306D26.xml&docbase=CSLWAR3-2007-CURR

page 1 of 1

Email:		*
First:
Last:
Verify: