LOS ANGELES, May 6, 2004 (PRIMEZONE) -- Digital Learning Management Corporation (DLMC) (OTCBB:DGTL) announced today that it has committed to the acquisition of SEA College of Business & Technology, a vocational school located in Orange County, California.
The acquisition complements DLMC's existing portfolio of schools. DLMC now has three educational institutions operating, including McKinley University, which was acquired in 2003. This most recent acquisition demonstrates the Company's commitment to expansion through acquiring profitable, well-managed vocational schools.
SEA College of Business and Technology was founded in July 1994 as an alternative educational institution for individuals and corporations who need quality training in Information Technologies (IT). SEA has offered hands-on courses for over 10 years in Orange County. The school offers both Diploma Programs and Certification Programs that cover a wide array of IT topics including certifications for Cisco, Microsoft and CompTIA.
Zeb Bhatti, President of DLMC, commented, "This acquisition is reflective of our commitment to adding complimentary curriculum, experienced management staff and implementing our proprietary web-based Virtual Campus Management system to fuel our organization's growth. He added, "SEA College is a quality institution with excellent faculty and administration, making it an attractive addition to DLMC. We think SEA College offers significant growth opportunities, particularly when combined with other DLMC resources."
Daniel Day, the Director of SEA College commented on the transaction, "SEA in the past has won awards for excellence in student job placement services from South Bay Workforce Investment Board, particularly in 2002 when the SEA graduate placement rate was as high as 96% job placement. We hope to repeat this achievement, with the backing of DLMC's organization and management. We look forward to building on the solid foundation that both organizations have developed."
About DLMC
Digital Learning Management Corporation (DLMC) is a provider of private post-secondary education in North America. Its education institutions offer a broad range of academic programs in Information Technology, Business & Management, Telecommunications and other Applied Industrial Technologies, culminating in the award of certificates through Bachelor degrees. With its proprietary Web-based Campus Management System (CourseMate Virtual University System), its learning institutions are able to seamlessly implement a 'Blended Learning' environment and provide a powerful learning experience, whether in a traditional classroom setting or delivered directly to a desktop computer. The CourseMate Virtual University System is an end-to-end Campus and Learning Management platform that leverages the Internet to fully integrate all aspects of education, resulting in a profoundly effective way to instruct and learn.
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risk and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.