Edulink, Inc. Announces Completion of Jaqkar Acquisition
SANTA MONICA, Calif., Dec 3, 2003 (BUSINESS WIRE) -- Edulink, Inc. (OTCBB:MYIQ) announced today the closing of the acquisition of 100% of the issued and outstanding shares of Jaqkar, Inc. common stock in exchange for a total of 10 million shares of Edulink, Inc.'s restricted common stock. Jaqkar will operate as a wholly owned subsidiary of Edulink, with Roxann Caraway remaining as president of the new Edulink subsidiary.
Jaqkar operated as a privately owned publishing services firm and developed unique approaches to bundling an array of services which provide simple and economical solutions for complex content development and distribution problems faced by publishers due to the convergence of the print media and digital worlds.
Jaqkar's founder and president, Roxann Caraway, in defining one of the prime markets for Jaqkar's services, stated: "One of our primary targets is a very large group of accidental publishers, meaning firms and organizations not primarily in the publishing business, but nevertheless requiring distribution channels that provide constituents of these firms and organizations with access to the resultant digital content developed for them by Jaqkar." A current client example: the American Association on Mental Retardation (AAMR) disabilitybooksonline.com.
Ms. Caraway further commented on this market's potential, "According to the American Society of Association Executives, there are approximately 10,000 quality non-profit trade and association accidental publisher prospects in the U.S. Since over 35% of these entities are located within a 100-mile radius of Washington, D.C., we are now taking aggressive steps to penetrate this valuable market by offering our efficient services in a very organized manner."
Ms. Caraway continued, "We also have developed a growing market of specialty publishers which require their content to be developed and delivered digitally through either the CD-ROM/DVD system we have created or through a Web-based system. The integration of the eKnowledgeXchange system and our developed system provides a very unique and compelling opportunity for us to capture this other growing market."
Edulink CEO Charlie Guy, speaking of the completed acquisition, stated: "During the completion of this transaction, we have, with Roxann's help and guidance, begun to make great strides in leveraging our combined organizations' strengths. Ms. Caraway's recruiting of the services provided by Harold Henke have been of immense importance as we begin to formally explore the acquisition of additional technologies that will allow us to better serve the accidental publishers market. We believe that these efforts will yield some very immediate new revenue generating capabilities to the Jaqkar publishing services division of eKnowledgeXchange."
About Edulink
Edulink's current business focus is on the near- and long-term opportunities to implement a series of revenue-generating products and services built upon our knowledge sharing system's core technologies known as the eKnowledgeXchange. The Company's focus is not limited to the U.S. K-12 market, but includes implementation in the international education marketplace as well as the utilization of these same core technologies to deploy revenue-generating models outside of the education market.
Edulink's core technology system, developed by its technology integration partner SAIC, and market tested over the last several years, is based on the integration of the three core foundations for digital asset or eKnowledge management: Storage & Retrieval, Repurposing, and Distribution. The eKnowledgeXchange will allow for the personalized secure and managed delivery of enhanced digitized assets or eKnowledge utilizing one of our four proprietary delivery systems: the Internet, CD-ROM/DVD, Traditional Print, or e-Print on Demand. eKnowledge is knowledge as it exists in a profoundly networked world. It is not just a digitized collection of knowledge. eKnowledge consists of knowledge objects and knowledge flows that combine content, context, and insights on application.
SOURCE: Edulink, Inc.
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