TLC Acquires The Princeton Review's Interactive Software Division

Posted on July 8, 1998

The Learning Company, Inc. and The Princeton Review Publishing, LLC announced that they have reached an agreement for The Learning Company to acquire The Princeton Review's Interactive Software Division for a purchase price of $5.1 million in cash. As part of the agreement, The Learning Company also acquired a 20-year exclusive license for the use of The Princeton Review brand and test preparation content in disk-based educational and reference software products. The Learning Company plans to publish a line of teen educational software under The Princeton Review brand that will include math, multi-subjects and test-prep software.

"The combination of the respected Princeton Review brand and The Learning Company's leadership in educational software gives us an unprecedented opportunity to provide the best learning software to the teen market," said Kevin O'Leary, president of The Learning Company. "Our development and distribution expertise, plus The Princeton Review's proven test preparation and teen-oriented content, will equal a complete resource for the college-bound high school student -- everything from improving grades in Algebra to raising test scores on the SAT, to choosing a college and getting in. For The Learning Company, this is a major step toward accomplishing our objective of being the leading provider of educational software products for all age groups."

"The Learning Company is an ideal partner for The Princeton Review. It brings unsurpassed sales and marketing resources that will maximize the value of The Princeton Review brand and products. Our combined expertise in educational software will work to develop new software products that will help students improve their grades as well as their test scores," said John Katzman, president of The Princeton Review.