Cary Street Partners LLC announced today that LearnSomething, Inc. (“LearnSomething” or the “Company”) has been acquired by Xerox (NYSE:XRX). LearnSomething is a leading provider of custom eLearning solutions and consumer education for the food, drug and healthcare industries. Cary Street Partners acted as financial advisor to LearnSomething. Terms of the transaction were not disclosed.
“We are excited to be partnering with the Xerox team and look forward to taking advantage of the opportunities this combination provides. The eLearning products and services provided by LearnSomething complement the customer care services that Xerox already provides to the pharmaceutical, biotech and healthcare industries,” says Steve Roden, president and CEO of LearnSomething. “The Cary Street Partners team played an invaluable role in organizing our process, positioning LearnSomething and reaching out to the appropriate potential partners.”
Based in Tallahassee, LearnSomething currently delivers industry information and educational programs to 85 percent of all U.S. retail pharmacy chains, reaching more than 110,000 retail pharmacists. Food and drug retailers use the company’s eLearning platform, Learner Community™, to complete regulatory compliance courses. In addition, retail industry associations depend on the Learner Community platform to create and market eLearning products and continuing education services to members.
LearnSomething was named to the 2012 “Top 20 Learning Portal Companies” list by TrainingIndustry.com, and was awarded the 2012 Florida Governor’s Innovation & Entrepreneurship Award.
Upon closing of the transaction, LearnSomething will go to market as “LearnSomething, A Xerox Company” and the Company’s 50 employees will continue to be led by Roden.
About Cary Street Partners
Cary Street Partners provides objective investment banking and wealth management solutions to successful individuals, institutions and companies from its Southeastern base. The investment banking team provides a broad range of services including merger and acquisition advisory services, private placements of debt and equity capital, and strategic and financial advice to management teams and boards of directors of emerging growth and middle market public and private companies across a variety of industries. Cary Street Partners is the trade name used by two separate limited liability companies, Cary Street Partners Investment Advisory LLC, a registered investment advisor; and Cary Street Partners LLC, a registered broker-dealer and a member of FINRA and SIPC.
For more information about this transaction or Cary Street Partners LLC’s investment banking group, please contact Charlie Hurt at (404) 974-4982 or Elizabeth Head at (404) 974-4983. Additional information about Cary Street Partners can be found at www.carystreetpartners.com.