Britannica.com To Acquire Educational Technology Firm

Posted on August 11, 2000

Britannica.com Inc. has announced its plans to acquire the Centre for Educational Technology Holdings (CETH), a subsidiary of the Centre for Educational Technology (CET), Israel's largest educational technology firm. In exchange for an undisclosed stake in Britannica.com, CETH will become a technology and content development hub for Britannica.com's San Francisco-based Education Division, which is preparing to launch its new product, BritannicaSchool.com, this fall.

Founded in 1971, CET specializes in production of software titles, design and implementation of hardware infrastructure for schools and creation of online educational communities. The company controls more than 50% of the Israeli digital educational market. CET is also the largest publisher of textbooks (700 titles) in Israel. The terms of the acquisition also will make Britannica.com the exclusive worldwide licensor of CET's extensive software library, except for those titles distributed in Israel and created in the Hebrew language.

``This acquisition immediately enhances our Educational Division and accelerates what we can accomplish in both the short- and long-term,'' said Don Yannias, chief executive officer of Britannica.com Inc. ``The Britannica brand is recognized around the world as a leader in learning, and our alliance with CETH will allow us to fully leverage the power of our brand by expanding our proficiency and extending our global reach in the online educational market.''