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Lingo Media Corp. (LMDCF) Issues Update on ELL Technologies Acquisition

Lingo Media Corp. today updated shareholders on its recent acquisition of ELL Technologies Ltd., marketed under the Q Group brand. ELL Technologies distributes its multi-media and online training products to 11 markets, including China, Korea, Malaysia, Mongolia, the Philippines, Vietnam, Denmark, the Netherlands, Slovakia, Turkey and the United States.

Michael Kraft, president and CEO of Lingo Media, said the acquisition strengthens the Lingo Media’s portfolio of educational products, and creates a central spot for English training.

“Through the acquisition of ELL Technologies we have further positioned ourselves in the English education industry with a full product suite of interactive, online and print-based products covering several vertical end market users. Students who are studying abroad, employees who need to learn English and corporations who need to train their staff in English now have a one-stop-shop in Lingo Media. With ELL Technologies’ acquisition now integrated, we are focused on driving sales contracts and building the business,” Kraft stated in the press release.

Lingo Media earlier this year acquired all issued and outstanding shares of UK-based ELL Technologies, positioning Lingo Media to expand its product line and extend its reach into 10 new countries, thereby generating increased revenues.

Lingo Media has already undertaken several “significant” moves to solidify and integrate the two companies, including training ELL’s Beijing-based sales team on the Q Group products for distribution in China and hiring additional sales and marketing staff.

Lingo Media said it will continue to seek out distribution opportunities in new territories to expand ELL Technololgies’ presence on the world stage.

ELL Technologies’ products are comprised of more than 560 hours of innovative, interactive language instruction for online and 1,200 hours for LAN (local area network). All courses have been developed based on the Council of Europe Framework (CEF); correlated with international English exams using the Test of English as a Foreign Language (TOEFL) and the International English Language Testing System (IELTS) standards.

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