InfoCast e-Learning Receives $6.0 Million Contract Through e-Fundi
Contract Value to Be Delivered Within Approx. 90 Days and to Be Guaranteed Through an Irrevocable Letter of Credit
TUCSON, Ariz., Dec. 13 /PRNewswire/ -- InfoCast Corporation, (OTC Bulletin Board: IFCCE - news), announced today that it has received a new $6.0 million contract to supply e-Learning to South Africa through e-Fundi, a South African Training Solutions Provider. The contract is focused primarily on the development of an integrated learning solution for a technology focused vocational training market. As well as ensuring an affordable training solution to previously disadvantaged communities.
``We are extremely excited to grow our existing relationship with e-Fundi and help South Africa's training system incorporate computer competencies. The courseware provided by InfoCast will help South African students to become employable in the technology segment through instruction in a wide variety of Internationally recognized computer skills,'' remarked Bill Lowe, Chairman and Chief Executive Officer of InfoCast Corporation.
The primary objective of this agreement is to provide education in internationally recognized skills via an affordable, highly distributed training solution capable of being accessed wherever a Personal Computer is available.
``The training solution that InfoCast has developed for the technology market in South Africa, is the first program of its kind, in that it is accessible to the masses,'' said Glen O'Moore, Chief Executive Officer for e-Fundi. ``This venture not only provides students with a remarkable learning opportunity but ensures access to a brighter future through affordable training solutions.''
Within the first 90 days of the contract, e-Fundi has committed to a $6.0 million purchase of InfoCast's product offering which includes a variety of courseware ranging from elementary computer skills to in-depth instruction of complex networking solutions.
Through this comprehensive offering, InfoCast is capitalizing on an industry segment that is experiencing phenomenal growth. According to IDC, the e-Learning market generated nearly $2.3 billion in 2000, and the U.S. corporate e-Learning market is on track for a growth rate of more than 50%, exceeding $18 billion in 2005. |
