SANTA MONICA, Calif. and BOULDER, Colo., Oct. 27, 2015 (GLOBE NEWSWIRE) -- Greenwood Hall Inc. (OTCQB:ELRN), an education technology company that enables colleges and universities to increase revenue and improve student engagement and outcomes, announced today it has entered into a Letter of Intent to acquire privately-held Uvize, Inc., a cloud-based SaaS EdTech provider that operates a leading social network linking students with mentors.
Uvize offers a comprehensive platform that features support mentor networks, one-on-one and group mentoring, mentoring by student peers and school advisors as well as mentor training. The SasS-based Uvize platform is best known for the support it provides active-duty military and veteran students at leading colleges and universities across the United States. Headquartered in Boulder, Colorado, Uvize services approximately 25 colleges and universities, four business accelerators, and a number of non-profit organizations including the Wounded Warrior Foundation.
"Uvize's technology and team will provide Greenwood Hall with ground breaking education technologies that support our core mission of helping schools maximize student experience and outcomes. There is substantial research evidence that mentoring can significantly improve a student's sense of well-being, the college experience and overall academic performance. The Uvize platform makes it possible for any college and university to implement large-scale peer mentoring initiatives through the power of cloud-based technology and social media. Coupled with our student success and coaching solutions, we believe this is a potential game-changer for increasing both student engagement and positive outcomes," said Dr. John Hall, CEO of Greenwood Hall.
Uvize Co-Founder and CEO Dave Cass, added, "We are very excited to join forces with Greenwood Hall. This move will help us provide our education clients with a fully integrated technology and services solution for student success. We selected Greenwood Hall based on their proven reputation for enhancing the student lifecycle at colleges and universities. We were equally excited about their experience in helping schools expand educational opportunities to returning active-duty service members and veterans. Finally, we believe Greenwood Hall is the right partner to help us further penetrate the higher education market as well as expand into other promising verticals such as corporate and entrepreneurial mentorship programs."
The Letter of Intent is non-binding and the parties will work together to finalize the transaction with an anticipated close in the first quarter of 2016. Cass and his senior leadership team are expected to join Greenwood Hall when the transaction is finalized. Completion of the transaction is subject to negotiation and execution of a purchase agreement, approval by the Boards of Directors of both companies, among other closing conditions. Terms of the transaction were not disclosed.
About Greenwood Hall
Greenwood Hall is an education technology company that helps colleges and universities manage the student journey. Every Greenwood Hall solution is designed to increase revenue and improve student engagement as well as learning outcomes. Since 2006, Greenwood Hall has developed customized turnkey solutions that combine strategy, people, proven processes and robust technology, to help schools effectively and efficiently improve student outcomes, as well as increase revenues and expand into new marketing channels, such as online learning. Greenwood Hall has served more than 50 education clients and over 70 degree programs.
For more information, visit http://www.greenwoodhall.com, follow us on Twitter @GreenwoodHall and Facebook at http://www.facebook.com/GreenwoodandHall.
About Uvize
Uvize is a cloud-based SaaS provider of education technology based in Boulder, Colorado. Its social mentoring platform enables colleges and universities to link students with mentors. The mentoring platform helps students prepare for their educational program and supports their success once they are enrolled. Since its founding in 2013 by several former military officers, Uvize has served thousands of students with a specific emphasis on veteran and active military students. Uvize education partners include Duke University. University of Massachusetts at Amherst, The George Washington University, and campuses of the State University of New York as well the University of North Carolina system. For more information on Uvize, visit www.uvize.com.
Forward-looking Statements
Certain statements contained in this document, including, but not limited to predictions and projections that may be considered forward-looking statements under securities law, involve a number of risks and uncertainties that could cause actual results to differ materially, including, but not limited to, lack of consumer acceptance and demand for the Company's products, insufficient working capital to expand the Company's technology and engage in product marketing, intense competition from larger and more well-established companies, and other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices.