Market Overview

Amazon.com to Acquire TenMarks; Terms Undisclosed

Amazon.com (NASDAQ: AMZN) today announced that it has reached an agreement to acquire TenMarks, a company that is helping teachers and parents deliver innovative mathematics curriculum to students across the country.

“Amazon and TenMarks share the same passion for student learning. TenMarks's award-winning math programs have been used by tens of thousands of schools and Amazon engages with millions of students around the world through our Kindle ecosystem," said Dave Limp, Vice President, Amazon Kindle. “Together, Amazon and TenMarks intend to develop rich educational content and applications, across multiple platforms, that we think teachers, parents and students will love.”

“Amazon and TenMarks share a commitment to developing easy-to-implement solutions for schools and families,” said Rohit Agarwal, TenMarks co-founder. “We currently offer teachers, students and parents access to effective resources to foster the vision of the Common Core curriculum in math, including scalable professional development and tools for connecting with parents. We back this belief with our business model, where teachers can register and access our product for free, while being able to opt in for premium features, if needed. Going forward, we believe Amazon and TenMarks will create significant innovations in the K-12 arena.”

“I've used TenMarks for the past two years at Grand View with fourth and fifth grade students to help a diverse group of students achieve in math and take ownership of their own learning,” said Sujata Bhatt, founder of the Incubator School and a National Board Certified teacher who spent 11 years at Grand View Boulevard Elementary in Los Angeles Unified School District. “As we launch the Incubator School this year, we focus on technology that truly activates learning and self-starting. TenMarks's products are designed to enable both students and teachers to be in the driver's seat by seeing where they're successful and where they need to revisit. TenMarks is an important part of our math plan this year.”

TenMarks offers personalized online math instruction and practice in a clear, manageable format for K-12 students complete with helpful hints, video lessons, and real-time results. TenMarks's products are designed to help students be individually motivated, engaged and nurtured.

Terms of the acquisition were not disclosed. Subject to various closing conditions, the acquisition is expected to close in the fourth quarter of 2013.

About Amazon.com

Amazon.com, Inc. (NASDAQ: AMZN), a Fortune 500 company based in Seattle, opened on the World Wide Web in July 1995 and today offers Earth's Biggest Selection. Amazon.com, Inc. seeks to be Earth's most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices. Amazon.com and other sellers offer millions of unique new, refurbished and used items in categories such as Books; Movies, Music & Games; Digital Downloads; Electronics & Computers; Home & Garden; Toys, Kids & Baby; Grocery; Apparel, Shoes & Jewelry; Health & Beauty; Sports & Outdoors; and Tools, Auto & Industrial. Amazon Web Services provides Amazon's developer customers with access to in-the-cloud infrastructure services based on Amazon's own back-end technology platform, which developers can use to enable virtually any type of business. Kindle Paperwhite is the world's best-selling and most advanced e-reader. It features new display technology with higher contrast, the next generation built-in light, a faster processor, the latest touch technology, and exclusive new features designed from the ground up for readers. Kindle, the lightest and smallest Kindle, features improved fonts and faster page turns. The new Kindle Fire HDX features a stunning exclusive 7” or 8.9” HDX display, a quad-core 2.2 GHz processor, 2x more memory, and 11 hours of battery life, as well as exclusive new features of Fire OS 3.0 including X-Ray for Music, Second Screen, Prime Instant Video downloads, and the revolutionary new Mayday button. The all-new Kindle Fire HD includes an HD display, high-performance processor and dual speakers at a breakthrough price.

Amazon and its affiliates operate websites, including www.amazon.com, www.amazon.co.uk, www.amazon.de, www.amazon.co.jp, www.amazon.fr, www.amazon.ca, www.amazon.cn, www.amazon.it, www.amazon.es, www.amazon.com.br, www.amazon.in, and www.amazon.com.mx. As used herein, “Amazon.com,” “we,” “our” and similar terms include Amazon.com, Inc., and its subsidiaries, unless the context indicates otherwise.

About TenMarks

TenMarks's web-based math programs have been used by students across tens of thousands of schools and thousands of districts. Each day, students across the country use TenMarks to improve their math skills and confidence. TenMarks believes that students learn best when they are individually engaged, nurtured, and motivated.

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, outcomes of legal proceedings and claims, fulfillment and data center optimization, seasonality, commercial agreements, acquisitions and strategic transactions, foreign exchange rates, system interruption, inventory, government regulation and taxation, payments and fraud. More information about factors that potentially could affect Amazon.com's financial results is included in Amazon.com's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent filings.

Posted-In: News M&A

 

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