Learn2.com, an e-learning services provider, and E-Stamp Corp., Mountain View, CA, an online shipping vendor, have signed a merger agreement to focus on the corporate e-learning market.
"Our corporate e-learning business has grown for eight consecutive quarters, and we anticipate that the merger with E-Stamp will help us accelerate this growth in the corporate and government markets," said Stephen P. Gott, CEO of Learn2.com, White Plains, NY. "The merger with E-Stamp will allow us to increase our market presence by investing in additional sales professionals and accelerating our product development initiatives."
Learn2.com, which provides online training and seminars for corporations, was searching for capital to fuel its growth and repay its debt, and E-Stamp will provide resources to enable both. Following approval by both companies' shareholders and completion of the merger -- expected to occur during the third quarter -- the company, which will be called Learn2 Corp., expects to have about $15 million to $17.5 million in working capital and to be debt-free.