Kvasir Education Ltd. is glad to announce that on 29th April 2022, a non-binding agreement was reached for the acquisition of 100% of the shares of Gool Ltd. Gool is a private company that owns and operates, among other things, leading Israeli websites in online education: www.gool.co.il, for science students in higher education institutions, and www.bagrut.co.il, for students preparing for their high school matriculation (‘Bagrut’) exams.
In accordance with the agreement reached, the value of the transaction will consist of an immediate payment to the amount of NIS 36 million, as well as an additional payment equal to 25% of Gool’s average EBITDA sum for the years 2022-2024, which will be paid to the current Gool shareholders in three installments between the years 2023-2025. Furthermore, at these agreed times the shareholders will be paid a decreasing portion of Gool’s eligible profit for the years 2022-2024, which will be calculated according to Gool’s net profit based on its audited financial statements, at rates ranging from 25% to 8.33% of the distributable profit for the years 2022-2024.
This agreement will be valid as long as a binding contract is signed within a period of 90 days from 29th june 2022.
At this time there is no guarantee that a contract to acquire the company in question will indeed be signed or that its terms will be in accordance with this agreement. Any opening of such a transaction depends, among other things, on performing due diligence and signing a comprehensive contract. The completion of the transaction (in the event that a contract in this regard is signed) is subject, inter alia, to the approval of the authorized bodies of Kvasir Education.
Negotiations for the acquisition of Gool shares are being managed by an independent committee appointed by the company’s board of directors and consisting of the company’s external boards, in light of Mr. Simi Efrati’s possession of the company’s controlling shareholders, at 20% of Gool’s issued and paid-up capital.
It should be noted that Kvasir Education is investigating various options for financing the transaction (in the event that a contract is signed), including financing through equity and/or financing by a number of external parties.
Qumu’s Video Engagement Platform Streamlines Curating and Distributing Proprep’s E-Learning Content to STEM Students Worldwide
MINNEAPOLIS – June 14, 2022 – Qumu Corporation (Nasdaq: QUMU), the leading provider of cloud-based enterprise video technology, today announced that it is providing Proprep, a leading provider of high quality, customized learning resources, with centralized video management and distribution capabilities via the Qumu Video Engagement Platform.
Proprep helps college students excel in their science, technology, engineering and math (STEM) studies by providing custom-built video tutorials that complement college textbooks and STEM courses. Proprep’s library of more than 12,000 video tutorials and exercises currently covers more than 3,500 college-level courses in multiple STEM categories. The content is available to students via a subscription-based service that enables them to individually explore the library for their specific courses or request customized content based on a course syllabus.
Qumu’s Video Engagement Platform is a SaaS-based enterprise video platform that helps globally distributed enterprises create, control, deliver, experience and analyze live and asynchronous video at scale. The software enables businesses to collaborate with employees, customers and partners in more engaging ways, powered by enterprise-grade quality, reliability, security, and integration that is required by public and private companies alike.
Proprep has also announced a complementary offering, Boost, that will be powered by Qumu’s Video Engagement Platform. Boost is an educator-facing offering that enables university faculty to create course materials and study aids from Proprep’s curated STEM tutorials and practice problems and to produce their own customized video-based course materials.
“The Qumu Video Engagement Platform enables us to deliver the right content to the right people at the right time. Qumu has been the key that unlocks the vault of video assets Proprep continues to build.
With Qumu, we can ingest, tag and sort video content at scale and make it easily searchable with the degree of flexibility and specificity students need to customize study materials based on the institution at which they are enrolled and the courses they are taking.”
ROB WEEKS, DIRECTOR OF VIDEO LICENSING FOR PROPREP
Proprep, founded in the United Kingdom in 2019, today has more than 500,000 student and faculty subscribers worldwide. “Our learner and educator customers are located all over the world and need to be able to reliably access our content regardless of where they are and what devices they are using for video playback,” Weeks said. “With Qumu powering distribution of our content, we have been able to minimize latency and buffering issues while maintaining a very high-quality presentation of the course materials. This is critical to ensuring learners stick with the content to realize the improvements in understanding, problem-solving skills and grades that brought them to Proprep in the first place.”
Weeks said that analytics capabilities built into the Qumu Video Engagement Platform will also help Proprep collaborate more productively with the university professors who create Proprep’s video content. “With Qumu, we are able to share not only views per asset, but also where those views are coming from, how many students are viewing them to completion, how widely used the related problem sets are and what students are viewing next, all of which can help us work together with our instructor partners to enrich the value of the STEM content we are providing,” Weeks said.
Proprep’s use of the Qumu Video Engagement Platform began in late 2021, according to Weeks. “We have been really pleased with the ease of onboarding, the support we received from Qumu’s customer service team and the overall quality of the Qumu solution,” he said. “Qumu has proven to be the toolset we need build an accessible library that is easily sortable, curate-able and deliverable to anyone anywhere on any device.”
“We are honored to add Proprep as a Qumu customer. Proprep is doing important and valuable work to support STEM students and educators and to enhance the already proven value of video as an educational tool. Online learning has been increasingly in the spotlight in the last two years and we are thrilled to be working with Proprep to help make it more accessible and effective.”
ROSE BENTLEY, PRESIDENT AND CEO OF QUMU.
About Qumu Corporation
Qumu (Nasdaq: QUMU) is a leading provider of best-in-class tools to create, control, deliver, experience and analyze live and asynchronous video at scale. Backed by an experienced team of software and video experts, Qumu’s software enables globally distributed organizations to drive employee, customer and partner engagement, modernizing business by providing more efficient and effective ways to communicate and collaborate.
Proprep is an education technology company with operations in the UK and US. Since its inception in 2019, the company has helped more than 500,000 STEM students worldwide maximize their academic potential. Proprep focuses on customized e-learning resources, specifically bite-sized video tutorials taught in whiteboard technology. Proprep is a subsidiary of Kvasir Education, listed on the Tel Aviv Stock Exchange under the symbol KVSR.
Qumu Media Contact:
Ashley Paula-Legge for Qumu
Big Valley Marketing
Proprep Media Contact:
Qumu Investor Contact:
Matt Glover or Tom Colton
Gateway Investor Relations
TEL AVIV, Israel, Sep 1,2021On behalf of all at Proprep and Kvasir Education, we are thrilled to welcome Katharine Jackson as our new CEO of Proprep UK and head of UK operations. Katharine brings extensive experience in the education and digital sectors, previously having served as Executive Vice President of SAGE Publishing, a higher education academic publisher. In this role, she led SAGE’s international activities during a period of outstanding growth and digital transformation.In the words of Itay Koppel, Kvasir Education CEO: “We congratulate Katharine on joining the company. We are confident that she will greatly contribute to our activities in the UK, and to our preparations for the start of the university academic year.”From Katharine herself: “I am so excited to be joining Proprep at this time of significant change in higher education. The quality of Proprep’s content and its deep technical expertise are a compelling combination with which to address the growing appetite for blended learning, utilising technology to improve educational outcomes.”
Business Reporter, May 2021
Covid-19 has highlighted the importance of online learning in higher education, but what does the future hold for blended learning?
The Times, March 23, 2021
What tools are working best for digital learning? And has remote working damaged our ability to learn? Our Digital Learning report explores if the damage of remote learning is reversible, using VR and AR, the increased inclusivity of digital learning, and more
The Telegraph, 19 September 2020, by Victoria Lambert.
From online freshers’ weeks and socially distanced lectures to mental health concerns, students won't have the typical university experience.
TEL AVIV, Israel, June 6, 2019 /PRNewswire
An international panel of edtech investors selected the video-based STEM tutorial company proprep as the most innovative and disruptive startup to pitch at the Israel Education Summit in Tel Aviv this week.