SOURCE: ePals

ePals

December 13, 2011 06:00 ET

ePals Corporation Completes Previously Announced Acquisition of Carus Publishing Company

WASHINGTON, DC--(Marketwire - Dec 13, 2011) - ePals Corporation (TSX VENTURE: SLN) ("ePals" or the "Company") announced today that it has completed its previously announced acquisition of Carus Publishing Company ("Carus").

Carus, which includes the Cricket Magazine Group, Cobblestone Publishing and Open Court Publishing, publishes 14 magazine titles covering all age groups (0 to 14+) on a variety of subjects (fiction, science, history, culture), hundreds of books and a growing collection of recognized Web and mobile applications.

The acquisition of Carus accelerates ePals' entrance into the home subscription market by adding Carus' subscriber base of more than 300,000 grandparents, parents and extended family members, as well as a broad array of award-winning publications for children across a variety of subjects. Carus also brings to ePals an experienced team of creative professionals and, through the accumulation of nearly 40 years of award winning publications, provides ePals with a unique library of high quality, leveled content for use throughout the ePals Global Community in building collaborative learning experiences for students around the world.

The Company also announces that the financial information related to Carus as disclosed in the Company's November 30, 2011 press release was incorrectly indicated as being audited. The Carus financial information was unaudited and has subsequently been audited.

About ePals Corporation
ePals Corporation (TSX VENTURE: SLN) is an education technology company and the leading provider of safe social learning networks (SLN). Focused on the K-12 market, ePals offers elementary and secondary school administrators, teachers, students and parents worldwide a safe and secure platform for building educational communities, providing quality digital content and facilitating collaboration for effective 21st century learning. ePals' award-winning products include: the ePals Global Community™; SchoolMail®365; LearningSpace®; and In2Books®, a common core eMentoring program that builds reading, writing and critical thinking skills. ePals customers and partners include International Baccalaureate, Microsoft Corporation, Dell Inc., IBM Corp., National Geographic and leading school districts across the United States and globally. ePals serves approximately 700,000 educators and reaches millions of teachers, students and parents in approximately 200 countries and territories. For the ePals Global Community, visit www.epals.com. Corporate information is available at www.corp.epals.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:

    Chief Financial Officer
    Aric Holsinger
    ePals Corporation
    Phone: (703) 885-3400

    Senior Marketing Manager
    Jacqueline Van Meter
    ePals Corporation
    Phone: (703) 885-3400

    Investor Relations
    Cory Pala
    E.vestor
    Phone: (416) 657-2400