BLOOMINGTON, IN-March 5, 2009–Today, Information in Place Inc., a developer of advanced interactive learning tools and services, announced its acquisition of WisdomTools, Inc., including all operating assets, intellectual property, and customer contracts. WisdomTools, Inc. is a privately held e-learning software and services firm that specializes in using the power of story to deliver contextual and engaging learning experiences designed to encourage maximum information retention.
WisdomTools offers highly effective learning that has a strong impact on employee performance through the power of collaboration and custom-developed client-centric stories. The e-learning produced by WisdomTools consistently delivers a high degree of retention by leveraging the rich learning opportunities found in each client’s own best practices and history and delivering it in a memorable and engaging format. Through the course of its history, WisdomTools developed several software platforms that can be hosted or integrated into client infrastructure for easy deployment and accessibility by employees and other learners.
WisdomTools is a well-respected firm in the e-learning community, and has performed contracts for a diverse array of organizations and industries. WisdomTools brings to the table an impressive roster of current and former clients, including IBM, Eli Lilly, Daimler Chrysler, AT&T, Kellogg School of Management, Blue Cross Blue Shield, The Forum Corporation, Indiana University, U.S. Army, Marsh & McLennan, ABN-AMRO, Bearing Point, and McDonald’s.
Sonny Kirkley, Ph.D., Chairman & CEO of Information in Place, had this to say on the acquisition: “We are delighted to add WisdomTools’ capabilities to our portfolio of learning products and services. Their technologies, training development processes and top-notch team compliment our existing product lines and will enable us to offer a full set of learning solutions for our customers.”
Information in Place offers a spectrum of innovative learning-based professional services, which will now be branded under the WisdomTools name. In addition to the story based e-learning products obtained through this acquisition, other professional services to be included in the WisdomTools brand are: serious game design and development; advanced blended learning mixing PC, classroom, online and mobile platforms; problem-based learning design and assessment; and cognitive task analysis.
The joining of WisdomTools with Information in Place is of special significance due to the shared history of the two organizations. In the mid 1990s, Dr. Martin Siegel and Dr. Sonny Kirkley managed a learning research lab on campus. They began working together to co-found WisdomTools, Inc. as the first commercial spinout of Indiana University in 1999. During this spinout effort the team decided to create a second spinout, Information in Place, Inc., which was lead by Kirkley and Chris Borland, another IU researcher. Information in Place initially focused exclusively on advanced learning technologies and mobile computing applications. Both companies have always had a shared mission to develop learning approaches that increase understanding and retention through the use of immersive and engaging learning tools. The synergies created through today’s acquisition promise exciting opportunities for clients, employees of both companies, and the learning community. “We are tremendously excited about this acquisition; Information In Place and WisdomTools share a common vision on the benefits of immersive learning technologies and the combining of the companies will allow us to expand the range of services we can provide to our current clients.” says Michael Shermis, the current Vice President of Client Services and Senior Producer.
About Information in Place, Inc.
Based in Bloomington, Indiana, Information in Place, Inc. has a strong history of providing high-quality education, training, and performance support solutions for large corporate and governmental clients. The company provides e-learning solutions, intelligent training tools, context-based information management, and performance-enhancement software solutions that greatly increase productivity and reduce the difficulty of managing and disseminating complex information. Subsidiaries of Information in Place include WisdomTools, LLC and Holutions, Inc. Information in Place has been consistently recognized as one of Indiana’s most innovative companies, and was recently selected as one of Indiana’s hottest 50 second-stage companies by Indiana Companies to Watch. The company also scored accolades from Military Training Technology magazine as one of the global top 100 companies in the military training industry for several years. For more information about Information in Place, please visit http://www.infoinplace.com/.
About The Primary Investors of WisdomTools, Inc.
ARCH Development Fund I is a venture capital fund organized to provide excellent returns by combining operations and seed investment experience to address the void of seed venture capital in the Midwest. ARCH’s model is to partner with universities and communities to create startups from world class technology. For more information about ARCH Development Partners, LLC, please visithttp://www.archdp.com/.
Isabella Capital, LLC, is a venture-capital firm inspired by Queen Isabella of Castile, Spain, whose investment in Christopher Columbus’ Sailing Venture led to the discovery of the Americas. Her investment is commonly regarded as the most successful one in history. Fund Isabella is designed for discovering new worlds. Like Queen Isabella, who sold her jewelry to fund the voyage, the firm seeks star quality captains, value-added products, and a market where there is a strong wind. Fund Isabella focuses on early-stage, women-led companies or those operating in the women’s market. Given that women lead over 30% of all U.S. enterprises while receiving less than 5% of venture capital, this focus provides a high-potential market niche. For more information about Isabella Capital, LLC, please visit http://www.fundisabella.com/.
The Indiana University Research & Technology Corporation (IURTC) is a not-for-profit agency that facilities industry-Indiana University research and technology collaborations. IURTC stimulates growth in Indiana’s technology sectors by helping companies develop commercially viable technology-with the ultimate goal of creating jobs and growing the state’s economy. For more information about IURTC and a related press release on this announcement, please visit http://iurtc.iu.edu/.
Jane H. Martin, an individual investor, served as former Acting CEO of WisdomTools. A veteran Silicon Valley venture capitalist, Jane has 30 years of experience in public and private equity investing and technology commercialization.
Information in Place, Inc. Forward-Looking Statement
Various statements in this release may contain projections or other forward-looking statements regarding future events or the future financial performance of Information in Place, Inc. (IIPI) or its subsidiaries, WisdomTools, LLC or Holutions, Inc. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including, among others, changes in the demand for IIPI products; changes in economic conditions and spending in the companies’ sectors; changes in the competitive dynamics of the companies’ markets, including strategic alliances and consolidation among its competitors or strategic partners; and adjustments to the companies’ relationships with strategic partners. Neither IIPI, nor its subsidiaries, assume any obligation or intends to update these forward-looking statements.
NOTE: Information in Place, the Information in Place logo, the WisdomTools logo, and WisdomTools® are trademarks owned by Information in Place, Inc. or WisdomTools, LLC.
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