LAKEWOOD, Colo., Dec. 18, 2006 (PRIME NEWSWIRE) -- College Partnership, Inc. (Pink Sheets:CGPA) announced today that it has completed the Equity Exchange transaction with Acentus Consulting Group, LLC., and Smith & Merritt Institute, LLC. ("collectively Acentus"). College Partnership, Inc. acquired all of the issued and outstanding membership interests of Acentus in exchange for the issuance of 9,757,946 shares of Convertible Preferred stock of College Partnership, Inc. This acquisition will add approximately $16,000,000 in gross revenues (unaudited) to College Partnership's fiscal year end (7/31/06) gross revenues for a total of approximately $20,000,000 (unaudited). There will be over 180 employees with the combined companies.
Mr. John J. Grace, Chairman of College Partnership, Inc. stated, "This acquisition provides a platform to expand our educational products and services. We can now create a more comprehensive program for families seeking college and financial planning. We have also acquired strong operating and marketing talent from the Acentus team. We have started to monetize College Partnership, Inc.'s extensive data base with Acentus' state-of-the-art call center as well as their experienced inbound and outbound call center staff."
About College Partnership, Inc.
College Partnership, Inc. is a full-service college planning company offering college-bound students and their families' integrated resources and services to guide them through the college preparation process. College Partnership's suite of products and services integrates career planning, college major field of study selection, college selection, preparation for college entrance tests, as well as searches for merit awards. The program consists of printed materials, exclusive, secured pass codes to proprietary websites and coaching throughout the program. The Company provides educational resources that assist families to save time, develop a plan, decrease stress and reduce college costs. For more information, visit: www.yourcollegepartner.com. and www.cbsa.com. For information on Acentus, see www.smithandmerritt.com.
This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results, specifically in the areas of future sales growth and profitability. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.