HOUSTON, Dec. 21, 2017 (GLOBE NEWSWIRE) -- ProBility Media Corp. (OTCQB:PBYA) based in Houston, Texas, a technology company offering immersive technologies, digital learning and compliance solutions for the education and training markets, today announced the execution of a binding letter of intent to acquire Disco Leaning Media Inc. (Disco), a learning experience company and digital publisher. The transaction is subject to the satisfaction of certain closing conditions including the execution of definitive documents.
Founded in 2014 and based in Austin, Texas, Disco has been executing on a vision to create a fundamental shift in learning by offering interactive educational content. Disco pioneered app-based textbooks, known as “course apps,” for higher education. The team’s approach can be used in a variety of educational programs beyond the classroom, including employee training, professional development, and customer education.
“We are incredibly excited to start working with the Disco team on creating immersive content for our broad customer base. Michael E. Webber, PhD, Co-Founder and Chairman of Disco, will be joining the ProBility Advisory Board. Juan Garcia and Coleman Tharpe, also Co-Founders of Disco, will be joining our management team and together bring decades of experience having previously worked with Apple, Disney, and Adobe launching innovative educational transmedia content,” stated Evan Levine, Chief Executive Officer of ProBility Media Corp. “By combining Disco’s creativity and expertise in content development and distribution with our advanced product offerings in immersive technology and simulation, we believe we will build a formidable company in the learning technology space.”
“Today there are a variety of technologies available to learners, but increasing efficiency and usability in existing learning experiences remains a significant challenge,” stated Juan Garcia, President of Disco. “Combining Disco’s skills and experience with ProBility’s state of the art virtual and augmented reality technologies, we will craft unique solutions to meet the needs of learners - today and tomorrow.”
Disco has developed Energy 101, the world’s first course app, which integrates the best features of an eBook with interactive learning experiences including interactive data, games, quizzes, and videos.
A sampling of DISCO’s other accomplishments includes:
- Developing and managing a corporate social responsibility program for Itron, a world-leading energy services and technology company. The Resourcefulness program explores conservation, sustainability, and the deep connection between energy and water resources.
- Evolving and deploying Top Energy Training and the TOPCORP program, commissioned by a consortium of the University of Texas at Austin, the Pennsylvania State University, and Colorado School of Mines, to inspectors, regulators, and other stakeholders in the oil and gas sector.
For more information, visit http://www.getdis.co.
Pickwick Capital Partners, LLC acted as the exclusive sell-side investment banking advisor to DISCO Media Learning in this transaction. For more information regarding the terms and conditions of the transaction, please refer to the forthcoming report on form 8-K expected to be filed by ProBility with the Securities and Exchange Commission at the closing of the transaction.
About ProBility Media Corp.
ProBility Media Corp. is an education and training technology company based in Houston, Texas, with offices in Florida, New York, and Vermont. ProBility is executing a disruptive strategy of defragmenting the education and training market place by offering high quality training courses and materials and preparing the workforce for excellence. ProBility services customers from the individual to the small business to the enterprise level corporation.
For more information, visit http://www.ProBilityMedia.com.
Forward-Looking Statements
This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information included in this Press Release including such forward-looking statements.
Contacts:
ProBility Media Corp.
Evan Levine
Chairman and Chief Executive Officer
Noah Davis
President and Chief Operating Officer
713.652.3937
Investor Contact:
PCG Advisory Group
Chuck Harbey
646.863.7997
charbey@pcgadvisory.com