InfoCast e-Learning Builds on Multi-year Contract Through eFundi And Moves to Deliver Training to the Australian Market
Additional $750,000 to Be Added to Existing Forecasted $4 Million in First Year Revenues
TUCSON, Ariz., Oct. 16 /PRNewswire/ -- InfoCast Corporation, (OTC Bulletin Board: IFCC - news), announced today that it has received a commitment to deliver an additional $750,000 in courseware to eFundi, a South African Training Company, already contracted to purchase in excess of $4 million in the first year. This new engagement is focused primarily on supplying rudimentary computer skills and a comprehensive Microsoft Office suite training program.
``We are truly excited about the opportunity to grow our existing relationship with e-Fundi and to help build South Africa's training system for the 21st century. This solution will accelerate South African students assimilation of universally accepted technical skills. The South African market is now positioned to receive the full benefits of e-education delivery through a rapidly expanding accessibility to low cost internet connections,'' remarked Bill Lowe, Chairman and Chief Executive Officer of InfoCast Corporation.
Within the first year of the existing contract, e-Fundi has committed to a $4 million purchase of InfoCast's integrated learning solution that includes a full curriculum for computer fundamentals and Microsoft Office. Information Technology (IT) skills training (including MCSE Windows 2000 and A+ Training Courseware), will also be part of the first phase of learning for students.
In addition, InfoCast is currently applying a similar e-Learning strategy to the Australian marketplace in offering Microsoft Office, MCSE certification preparation programs, and customized call center training. InfoCast firmly believes that the potential for the Australian initiative will exceed the existing South African engagement.
Through this comprehensive offering, InfoCast has identified an industry segment that is experiencing phenomenal growth. According to IDC, the current market for online learning is $2 billion. By 2003, the market is estimated to grow to $11.4 billion and 68% of K-12 classrooms will have access to the Internet, up from 52% in 1998.
Stephen Williams, President of InfoCast noted, ``We are planning to take the success of this project, combined with the customized InfoCast e-Learning portal and focused e-enabled courseware content, to other global markets. This contract provides the validation of our model and we plan to build on that by targeting and replicating this success.'' |
