ARUNDEL, U.K., May 31, 2002 (PRIMEZONE) -- E-learning and knowledge management solutions provider Futuremedia Plc (Nasdaq:FMDAY) today announced that the shareholders of C2W Limited have unanimously approved the acquisition of their company by Futuremedia.The C2W professional service business will complement Futuremedia's core business and enhance the company's position as a single source provider of knowledge management systems and e-learning solutions.
Mats Johansson, CEO of Futuremedia, said: "C2W's professional service business is a key building block in our return to profitability strategy and I expect our professional service business to grow rapidly and contribute positively towards the company's drive towards profitability during the coming three quarters. C2W has substantial management expertise and contacts in the resource management, environment, and property sectors that will provide an excellent opportunity to maximize the company's knowledge management capabilities". Johansson also stated that the professional services business would enable industry to develop e-learning solutions to address business performance and business driven processes.
About C2W Limited
C2W Limited was formed in May 2000 to provide a range of professional and knowledge management services for industry. C2W have developed their own unique web-based information service providing Environment Agency data as a value added reseller to UK-based resource management companies. C2W have worked with corporate and multinational organizations including Johnson & Johnson, BP, Honeywell, and leading property organizations.
About Futuremedia
Futuremedia Plc (est.1983) is a Total Solutions Provider in the growing e-learning market with nearly 20 years experience in the production and distribution of its technology and courses in the U.K., Europe and the U.S.A.
Futuremedia is the developer and supplier of easycando(TM) and Solstra Learning Management Systems (LMS) for the small-scale to the very large-scale management and worldwide distribution of corporate training and education. Its in-house capabilities include professional services consultancy, learning needs analysis, content brokerage, customized content production, project management and software development.
Futuremedia's clients include Consignia (formerly The Post Office), Ford Motor Company and BT and on its operating platform Futuremedia distributes training content from SmartForce, Centra Software, Skillsoft and NETg in addition to its in-house developed materials.
Futuremedia can be found on the Web at www.futuremedia.co.uk
easycando(TM) can be found at www.easycando.com
This press release contains forward-looking information that involves risks and uncertainties, including statements about the Company's plans, objectives, expectations and intentions. Such forward-looking statements include, without limitation, discussions concerning the Company's strategic direction and new product introductions and developments. Readers are cautioned that such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to differ materially from those set forth in the forward-looking statements. The risks and uncertainties include, without limitation, the early stage of the Internet and intranet learning and communications market, the management of growth, the ability of the Company to develop and successfully market new products, rapid technological change and competition, the ability of the Company to identify, secure and retain new customers, as well as other factors detailed from time to time in the Company's filings with the Securities and Exchange Commission. The forward-looking statements contained herein speak only as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such statement is based. All product names and trademarks mentioned herein are trademarks of Futuremedia or their respective owners.