ACT360 Solutions Ltd. (TSX-V:AKM) has entered into a licensing agreement with India’s Savvica Inc., the Vancouver company announced January 3.
The three-year agreement gives ACT360 the right to operate and monetize two websites geared toward international education marketing, www.learnhub.com and www.jumbotests.com. In return, ACT360 will pay Savvica an annual royalty calculated on total revenue generated by the websites.
“This transaction represents the first part of ACT360’s strategy to achieve order of magnitude sales growth while minimizing dilution to shareholders during the company’s revenue realization stage,” said ACT360 CEO Vincent Wong.
“We seek synergistic assets that we can aggressively monetize via our proprietary international education marketing platform.”
The two sites, which provide online learning, college test preparation, financial planning and career planning tools, have a combined total of 2.5 million registered users.
Savvica is a subsidiary of Educomp Solutions Ltd., a company that sets up and runs computer education programs in schools in India and has around 22.8 million learners and educators around the world.
