Rizk Ventures said Monday it acquired Classroom24-7 LLC. Financial terms weren’t announced. Classroom24-7 is an online education technology solutions company. Ernie Liang, the company’s CEO, and Jack Lyden, Classroom24-7 senior VP, have invested as part of the deal.
NEW YORK, April 6, 2015 /PRNewswire/ — Rizk Ventures, LLC (www.rizkventures.com) announced today the acquisition ofClassroom24-7, LLC (www.classroom24-7.com), a leading online education technology solutions company. Ernie Liang and Jack Lyden, Classroom24-7’s Chief Executive Officer and Senior Vice President, respectively, have also invested in the company as part of the transaction.
“We believe there is an outstanding opportunity to build upon Classroom24-7’s success working with top tier institutions, including Hospital for Special Surgery, Georgetown University Law Center, and the New Jersey State Bar Association,” said Thomas A. Rizk, Rizk Ventures’ Co-Founder, Chairman, and Chief Executive Officer.
“The growth strategy for Classroom24-7 includes working with both domestic and international clients,” said Rizk Ventures’ Managing Partner Klaus Lederer. “Rizk Ventures’ expertise and strong international network uniquely position us to expand Classroom24-7’s services into the global educational and corporate marketplaces.”
Classroom24-7 offers the following turnkey online education solutions: Market and Feasibility Studies, Instructional Design, Rich Media Production, Learning Management Systems (LMS), and Marketing, Recruitment, and Retention Services. Each solution consists of a range of services customized to address each client’s specific needs and requirements. The LMS is a scalable solution designed to deliver workforce training, degree programs, and continuing education and certificate programs.
“Classroom24-7’s mission is to work with institutions to create the foundation needed to deliver world-class distance learning programs,” said Chief Executive Officer Ernie Liang. “Our technology and services improve the educational experience for learners, enhance our clients’ brands, and provide significant revenue generation opportunities for our clients.”
“The distance learning space has exploded in the last few years as institutions realize that these types of technologies enhance their offerings, generate new revenue streams, increase productivity, and educate students and workforces,” said Rizk Ventures’ Managing Partner Geoff Rizk. “The exceptional management team led by Ernie and Jack provides a significant competitive advantage for Classroom24-7 to expand in this growth industry.”
About Classroom24-7, LLC: Classroom24-7 is a leading provider of online education technologies and services. The company serves hospitals, associations, non-profits, higher education institutions, and corporations. Classroom24-7 delivers a comprehensive range of services required to build large-scale, successful online education programs. www.classroom24-7.com
About Rizk Ventures, LLC: Rizk Ventures is a privately-held investment firm based in New York, founded by Thomas A. Rizk and Linda Rizk. Rizk Ventures focuses on investment activities in the areas of Venture Capital, Private Equity, Real Estate, and Special Opportunities. Rizk Ventures adds value post-investment by strengthening consumer relationships, advising management teams, broadening technology platforms, and providing operational expertise. www.rizkventures.com