Rosetta Stone, an Arlington, VA-based provider of a computer-assisted language learning program that teaches more than 30 languages, acquired Livemocha, a Seattle, WA-based online language-learning community, for $8.5m in cash.
Led by CEO Michael Schutzler (read here his letter), who will assist in post-acquisition integration efforts as a senior advisor to Rosetta Stone CEO and President Steve Swad, Livemocha provides a cloud-based learning platform and has a community of over 16 million people—including language experts, instructors and multi-linguists from 195 different countries – all teaching, learning and interacting online. Following the deal, it will remain in Seattle expanding Rosetta Stone’s US presence.
The acquiring company will also leverage Livemocha’s worldwide community, which will bring connectivity to its existing hubs in Europe, Asia, Latin America and the Middle East (It has offices in Austin, TX, San Francisco, CA, Harrisonburg, VA, Boulder, CO, Tokyo, Seoul, London, Sao Paulo and Dubai).
22/12/2009: Livemocha Raises $8M in Series B Financing