Education is an important part of moving society forward. It has also been said to be the key to keeping the U.S. competitive in the future world markets. One educational tech company, Echo360, realizes this and works to create technology designed to help people teach and learn. The company has recently purchased Michigan start-up business LectureTools in order achieve its business planning goals to expand its scope.
Both Echo360 and LectureTools began as research projects at the University of Michigan in 2005. The purchase improves Echo360's ability to deliver online courses as well as enhance face-to-face teaching and learning. Echo360 can now quickly and easily deliver the LectureTools technology to over 500 universities worldwide.
Echo360 has numerous resources and connection within the technology industry which will help it as the company begins to grow and expand. One of these resources is the company Revolution Growth which was founded by a co-founder of America Online. This company backs Echo360, while its founder is an Echo360 adviser and investor. Being surrounded by knowledgeable resources will increase the company's chances of success.
When a company in Michigan expands by acquiring another company, it is important to adjust the company's business planning to best make the transition smooth and effective. The acquiring company will need to plan what role the new company will play in its overall business structure and procedures. It may even be necessary for the acquiring company to obtain venture capital in order to complete the purchase of the other business. All of these issues take careful planning that seeks to achieve stated goals while also fully complying with applicable laws and regulations.
Source: Examiner.com, " Echo360 purchases U-M startup LectureTools ," Tim Pulice, Nov. 9, 2012