http://mms.businesswire.com/bwapps/mediaserver/ViewMedia?mgid=322433&vid=2Rosetta Stone announced today that it has acquired Seattle-based Livemocha, one of the world’s largest online language-learning communities, for $8.5 million in cash. Bringing with it a robust and extensible cloud-based learning platform and a community of over 16 million Livemocha members, the transaction accelerates Rosetta Stone’s transition to cloud-based learning solutions and reinforces its leadership position in the competitive language-learning industry.
“We are in the process of transforming Rosetta Stone to be the most dynamic and ubiquitous technology-based learning platform in the world,” said President and Chief Executive Officer Steve Swad. “Our acquisition of Livemocha will help accelerate that transformation. With Livemocha and its vibrant online community on our side, Rosetta Stone will reach more people and change more lives than ever before.”
With members hailing from 195 different countries, the Livemocha community boasts over 16 million people—including language experts, instructors and multi-linguists—all teaching, learning and interacting online. The company has pioneered the use of crowd-sourcing to drive content development and social engagement in the realm of language learning. The combined strength of the Livemocha community and Rosetta Stone’s innovative product development and marketing capabilities uniquely positions the company to meet the changing needs of learners around the world. Read more...