LIMA, PERU and TORONTO, ON –(March 31, 2016) – Telefónica Educación Digital S.L.U. (“Telefónica“), a company within the Telefónica Group that offers comprehensive online learning solutions for education and training, and ELL Technologies Ltd. (“ELL Technologies”), a subsidiary of Lingo Media Corporation (TSX VENTURE: LM)(OTCQB: LMDCF) (“Lingo Media), an EdTech company that is ‘Changing the way the world learns English’ through innovative online and print-based technologies and solutions, are pleased to announce that they have entered into a commercial distribution partnership. Telefónica has been granted the rights to market, sell and distribute ELL Technologies’ full product suite of English language training products in Peru.
“After a long evaluation process of ELL Technologies, we have determined that the solutions which ELL Technologies’ offers are some of the best-in-class eLearning online courses for English training available on the market in Peru,” said Marco Esparza Montejo, CEO of Telefónica Educación Digital in Peru. “Our vision is to continually innovate and equip the citizens of Peru with leading-edge capabilities in education technology in order for them to learn English effectively and efficiently, and help them enhance their communication skills.”
“We are pleased to finalize this agreement with Telefónica as we recognize the company as a key strategic distribution partner in the Peruvian marketplace, that will help us make significant inroads in this market,” commented Michael Kraft, President & CEO of Lingo Media. “Telefónica will work with ELL Technologies to help grow our existing sales pipeline, as well as reach out to their own industry contacts. Both companies have previously worked together on select smaller projects and the experience was very constructive. We are excited about the opportunities that this new partnership offers.
In 2014, Telefónica Educación Digital experienced great growth, with over 400 employees in 5 countries (Spain, Colombia, Chile, Peru and Brazil), 300 customer groups and 4 million students via different platforms. The company has expanded its product and services portfolio in the education field by carrying out teacher training programs and deploying educational technology platforms for schools, to provide a more customized and collaborative digital learning approach.
The system of education in Peru is somewhat similar to that of the United States. It has basic education (ages 3 to 5 years old), primary (ages 6 to 11 years old) and secondary (ages 12 to 16 years old), all of which are free. However, school is only mandatory from ages 6 to 16 years old. Higher education is not mandatory or free. In recent years, education in Peru has expanded significantly — enrollment has increased, literacy has improved, and government spending has more than quadrupled. “Spending money is not enough by itself; it needs to be spent productively. This is where ELL Technologies excels and where it yields proven results for its customers,” said Gali Bar-Ziv, COO of Lingo Media. “We look forward to bringing greater access and improved learning outcomes for students and employees across Peru in conjunction with our new partner Telefónica.”
About Telefónica Educación Digital
Telefónica Educación Digital is a company within the Telefónica Group that specializes in offering comprehensive online learning solutions for Education and Training. They rely on a multi-skilled team of educators, consultants, technology experts, web developers, web designers, managers, teachers, tutors and student assessors that develop a wide range of eLearning products and services aimed at its customers.
Telefónica Educación Digital’s parent company Telefónica, S.A. is one of the world’s largest telecommunications network operators by market capitalization and number of customers. What’s more, taking into account every sector of activity, it is one of the 50 largest companies in the world by market capitalization and one of the 100 biggest in terms of revenue. Present in 21 countries with 125,000 professionals. Consolidated revenues of 47,219 million euros in January-December 2015 and more than 322 million total accesses at December 2015.
To learn more, visit www.telefonicaeducaciondigital.com.
Lingo Media is a global EdTech company that is ‘Changing the way the world learns English’, developing and marketing products for learners of English through various life stages, from classroom to boardroom. By integrating education and technology, the company empowers English language educators to easily transition from traditional teaching methods to digital learning.
Lingo Media provides both online and print-based solutions through two distinct business units: ELL Technologies and Lingo Learning. ELL Technologies provides online training and assessment for English language learning, while Lingo Learning is a print-based publisher of English language learning programs in China.
Lingo Media has formed successful relationships with key government and industry organizations internationally, with a particularly strong presence in Latin America and China, and continues to both extend its global reach and expand its product offerings.
To learn more, visit us at www.lingomedia.com
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Portions of this press release may include “forward-looking statements” within the meaning of securities laws. These statements are made in reliance upon Sections 21E and 27A of the Securities Exchange Act of 1934, which involve known and unknown risks, uncertainties or other factors that could cause actual results to differ materially from the results, performance, or expectations implied by these forward-looking statements. These statements are based on management’s current expectations and involve certain risks and uncertainties. Actual results may vary materially from management’s expectations and projections and thus readers should not place undue reliance on forward-looking statements. Lingo Media has tried to identify these forward-looking statements by using words such as “may,” “should,” “expect,” “hope,” “anticipate,” “believe,” “intend,” “plan,” “estimate” and similar expressions. Lingo Media’s expectations, among other things, are dependent upon general economic conditions, the continued and growth in demand for its products, retention of its key management and operating personnel, its need for and availability of additional capital as well as other uncontrollable or unknown factors. No assurance can be given that the actual results will be consistent with the forward-looking statements. Except as otherwise required by US Federal securities laws, Lingo Media undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changed circumstances or any other reason. Certain factors that can affect the Company’s ability to achieve projected results are described in the Company’s filings with the Canadian and United States securities regulators available on www.sedar.com or www.sec.gov/edgar.shtml.
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For further information, contact:
Telefonica Digital Education
Marco Esparza Montejo
Director General (CEO)
Tel: +51 (1) 222 4760
Mobile: +51 966 663 246
For further information, contact:
President & CEO
Tel: (+1) 416-927-7000 Ext. 23
Toll Free: 1 866-927-7011