#Netschool software

John Murray, President and CEO of PLATO Learning, said, вЂњWe believe this combination will position PLATO Learning to be the first company in the K-12 space to provide a complete, standards-based, e-learning platform that incorporates all of a school districtвЂ™s instructional resources - including textbooks, workbooks, lesson plans, best practices, and computer-based lessons - fully correlated with state and national standards and easily integrated by classroom teachers into their daily activities.

The acquisition will bring together Orion and Constellation, NetSchoolsвЂ™ leading curriculum platforms TeachMaster, PLATO LearningвЂ™s standards-based curriculum company and PLATO LearningвЂ™s core curriculum products, creating a comprehensive, highly customizable, open architecture education delivery platform that is fully correlated with local, state and national standards. PLATO Learning will be providing revised revenue and earnings guidance for the remainder of fiscal 2002 during its second quarter earnings release call, which is tentatively scheduled for June 5, 2002. The transaction is expected to become accretive in the latter quarters of the fiscal year ending October 2003. The acquisition is expected to be dilutive to PLATO LearningвЂ™s earnings per share in the remainder of itвЂ™s current fiscal year ending October and in the earlier quarters of fiscal 2003.

#Netschool software

NetSchools generated revenues of approximately $16.0 million in calendar 2001, of which about $4.0 million was software and services related and the balance was hardware sales. The transaction is expected to close no later than May 17, 2002, following satisfaction of certain conditions to the transaction. PLATO Learning is acquiring all the shares of privately-held NetSchools for $6.0 million in cash 800,000 shares of PLATO Learning stock 200,000 warrants for shares of PLATO Learning stock assumed liabilities and transaction expenses and additional consideration of up to approximately $6.0 million, contingent on the NetSchoolsвЂ™ product and services revenues generated through October 2004.

The acquisition will enhance PLATO LearningвЂ™s ability to provide enterprise-wide solutions that align classroom education across all standards and deliver compelling and effective content through NetSchoolsвЂ™ instructional management platform. (Nasdaq: TUTR) announced recently it had signed a definitive agreement to acquire NetSchools Corporation, a provider of Internet-based e-learning software and services solutions for the K-12 market by offering a web-based curriculum and instructional management delivery platform that facilitates delivery of school curriculum aligned to local, state and national standards and facilitates online assessment, lesson planning and content delivery.