SOURCE: Revolution Prep

June 22, 2010 12:11 ET

Revolution Prep Completes Acquisition of Ivy Insiders

Combined Company to Deliver Premium Test Preparation on Campuses Nationwide, and Online Through Innovative Proprietary Technology

SANTA MONICA, CA--(Marketwire - June 22, 2010) -  Revolution Prep (www.revolutionprep.com), a Santa Monica based SAT/ACT test preparation and educational software company, today announced the completion of its acquisition of Ivy Insiders.

Revolution Prep's acquisition of Ivy Insiders creates the nation's most innovative and fastest growing test preparation company. In 2009, Revolution Prep and Ivy Insiders helped almost 55,000 students with ACT and SAT test preparation. That number is expected to grow between 50 and 100 percent in 2010.

The Ivy Insiders model breaks from tradition as it identifies top-scoring freshmen and sophomores from the nation's elite universities and sends them back to their hometowns to offer test prep classes. These branch managers are given the opportunity to learn fundamental business skills as they manage marketing, operations, teaching, and customer service for their own region. In 2010, Ivy Insiders plans to employ 420 Branch Managers in 48 states, and has enjoyed 100% growth each year since its inception.

"Both Revolution's Regional Managers and Ivy Insiders' Branch Managers have long-standing relationships with school teachers, counselors, and administrators and we feel this acquisition creates synergies and efficiencies that allow us to better serve our customers -- whether we define that to mean students, parents, teachers, or school counselors and administrators," said Ramit Varma, co-founder of Revolution Prep.

As a result of the acquisition, Revolution Prep accelerates its national expansion into key schools and regions. And, Ivy Insiders' Branch Managers can sign on with Revolution Prep as SAT/ACT teachers or private tutors. The acquisition also brings together two companies aligned around the core social mission that admission into the nation's best colleges should not be gated by the ability to pay for ACT or SAT test preparation. Consequently, both companies will continue to provide need-based scholarships to students. 

"We are incredibly excited to be joining Revolution Prep," said Nick Green, who founded Ivy Insiders three years ago while a student at Harvard, and who will continue to oversee the Ivy Insiders business. "Maintaining our current growth rate over the next several years will require new resources, experienced management, and scalable infrastructure. Revolution has all three, yet it still maintains a start-up culture and social mission that you'd typically find in a much smaller company."

Founded in 2002, Revolution Prep (www.revolutionprep.com) is an education software and services provider that has helped over a hundred thousand students score higher on the SAT, ACT and other high-stakes exams, while dramatically improving basic academic skills. Revolution Prep was founded with the mission of transforming education by leveraging technology to provide world-class test prep to every student, regardless of the ability to pay. Revolution Prep offers programs in real classroom settings, live online classroom settings, private in-person tutoring, private online tutoring, self-guided online courses, and hybrid courses that combine real classroom courses with in-person tutoring and the self-guided online course.

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