Universal Learning Technology Secures Venture Round from CMG@Ventures;
ULT to Provide Next Generation Distributed Learning Technologies
Business Wire - September 03, 1998 06:14
ANDOVER, Mass.--(BUSINESS WIRE)--Sept. 3, 1998--CMG Information Services, Inc., (NASDAQ:CMGI) through its venture
capital unit, CMG@Ventures today announced that it has invested in Universal Learning Technology (ULT), a provider of Internet-based
interactive teaching and learning software and tools. This investment will make CMG@Ventures one of the largest investors in ULT, which
recently raised a total of $8.5 million to bring its Bravo!(tm) network learning environment to the marketplace.
"We're very excited about the opportunities presented by ULT's leveraging of Internet network technology to enhance the learning process
in schools, universities, businesses and homes," said CMG CEO David Wetherell. "ULT has successfully developed the network and
business model that allows publishers and the users of their content to take advantage of the Internet to provide a richer learning
experience."
ULT's Bravo! network combines state-of-the-art Web application technology with educational content supplied by major educational
publishers and educational models developed by ULT's exclusive research partner, the renowned Center for Applied Special Technology
(CAST). The result is a fully integrated, Internet-based, network learning system that offers faculty and students the ability to easily access
and create content and interactive Internet-based learning experiences. The Bravo! environment also enables publishers to re-position their
existing content for electronic learning, while providing a secure content distribution system.
In a product trial conducted at Northeastern University in the fall of 1997, 91% percent of students rated their experience with Bravo! as
"positive," while 100% reported they enjoyed using the system to complete an assignment online. The professor in the trial reported that the
students who had access to the Bravo! environment did better on an assignment than the students who did not.
"Bravo! is the only true Internet-based learning environment I have seen," says Dr. James Stellar, Dean of Arts and Sciences at
Northeastern University. "We are excited to be participating with ULT and major publishers in implementing exciting new technology with
our faculty and students."
"Having CMG as a partner is tremendously exciting for ULT," said Carol Vallone, President and CEO of ULT. "The knowledge, resources
and synergies of the CMG companies will be great assets to us as we go to market with our innovative online learning products."
About CMG Information Services
CMG Information Services, Inc. (NASDAQ:CMGI) is an investor and developer of Internet companies. In addition, CMGI operates direct
marketing companies and venture funds focused on the Internet. Microsoft, Intel and Sumitomo hold minority positions in CMG Information
Services.
The CMG Internet Group is made up primarily of majority-owned subsidiary companies including Planet Direct, NaviSite, Engage
Technologies, Accipiter, ADSmart, InfoMation, The Password and Magnitude Network.
The company's CMG@Ventures investment affiliates have significant interests in Lycos, Inc. (NASDAQ:LCOS), blaxxun, GeoCities,
Vicinity, Parable LLC, KOZ, Silknet, Chemdex, Speech Machines, Softway Systems, TicketsLive Corporation, Critical Path, Mother
Nature, and Visto Corporation. CMG @Ventures recently announced a definitive agreement to sell its investment in Reel.com to
Hollywood Entertainment, while investing approximately $34 million in Hollywood Entertainment. CMG @Ventures recently signed a
binding letter of agreement to sell its 25 percent stake in PlanetAll to Amazon.com, Inc. CMG also includes CMG Direct, SalesLink,
InSolutions and On-Demand Solutions as wholly owned subsidiaries in the direct marketing, fulfillment and turn-key arenas.
Corporate headquarters is located at 100 Brickstone Square, Andover, MA 01810. Telephone: 978-684-3600. Fax: 978-684-3674.
Additional information is available on the company's Web site, cmgi.com.
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