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EduTone Acquires K12complete and Launches EdPay

Press Release: EduTone Corporation [September 8, 2011]

Copyright (c) 2011 EduTone Corporation

Abstract: EduTone today announced the acquisition of California based start-up K12 Checkout, Inc., dba K12complete, which will be merged into EdPay, Inc., a newly formed wholly-owned Subsidiary of EduTone. EduTone will integrate K12complete’s online School Storefronts with its award-winning EduTone Xchange Platform. The consolidated solutions will enable EduTone’s customers to streamline online payment processing and fund raising activities and to offer a broad range of school-related products and services to local communities. The acquisition of K12complete is the second acquisition for EduTone in 2011. In July, EduTone acquired Global Grid for Learning, Ltd. from Cambridge University Press to become EduTone’s digital content marketplace for education.


Alameda, CA (September 08, 2011) - EduTone today announced the acquisition of California based start-up K12 Checkout, Inc., dba K12complete, which will be merged into EdPay, Inc., a newly formed wholly-owned Subsidiary of EduTone.

EduTone will integrate K12complete's online School Storefronts with its award-winning EduTone Xchange Platform. The consolidated solutions will enable EduTone's customers to streamline online payment processing and fund raising activities and to offer a broad range of school-related products and services to local communities.

The acquisition of K12complete is the second acquisition for EduTone in 2011. In July, EduTone acquired Global Grid for Learning, Ltd. from Cambridge University Press to become EduTone's digital content marketplace for education. EduTone also recently launched the ET Persona, an affordable school-centric tablet that has been received with rave customer reviews. These acquisitions and the ET Persona product line demonstrate EduTone's continued commitment to be the preferred ecosystem integration platform for schools and education service providers worldwide.

"Both public and private schools today are grossly underfunded," said Robert Iskander, CEO of EduTone. "As the role of technology infrastructure in schools comes to the forefront, we are pleased to be able to provide our partners and customers with robust and cost effective solutions. Combining K12complete's online storefronts with EduTone's secure cloud computing services and affordable mobile devices, such as the ET Persona, will help schools become more efficient, enhance their technology infrastructure and address current budgetary shortfalls."

"The synergies between EduTone and K12complete are compelling," said Adam Thorpe, Co-Founder of K12complete.

"This acquisition will facilitate a rapid rollout of K12complete's payment processing and e-Commerce platform and will drive EdPay to be the market leader in electronic payment, e-Commerce and fundraising solutions for schools. K12complete is excited to be joining forces with such a great organization and an energetic team."

About EduTone

EduTone provides schools with the sustainable technology infrastructure necessary to create the teaching and learning environments parents and students require. Installed in thousands of schools around the world, the EduTone Xchange is a 2011 CODiE "Best K-12 Education Solution" award-winning, Web 3.0 Platform-as-a-Service technology that enables on-demand, one-to-one services delivery in the Education Enterprise.

EduTone is a DBA of VIP Tone Inc., a privately held corporation headquartered in Alameda, California. For more information, go to: http://www.EduTone.com

About K12Complete: K12complete provides transformational e-Commerce solutions to public and private schools nationwide. K12complete's innovative online storefront enables schools to eliminate inefficient cash and check transactions, to simplify revenue management, and to increase community participation in fundraising efforts. K12complete also partners with leading educational software providers and payment processors to enable a fully integrated, dynamic and easily managed payment processing and e-Commerce solution.

Headquartered in Los Angeles, CA, K12complete was founded in 2010 by a team of dedicated individuals trying to improve the way schools manage funds. For more information, go to: http://www.k12complete.com

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Publication Year:2011
Type of Material:Press Release
Language English
Issue:September 8, 2011
Publisher:EduTone Corporation
Company: EduTone Corporation
Subject: Mergers and acquisitions
Record Number:16026
Last Update:2012-12-29 14:06:47
Date Created:2011-09-10 02:49:34