Under the terms of the agreement Innovatia will hold a minority equity investment in LearnStream. In addition to the investment, Innovatia’s Interactive Knowledge division has engaged LearnStream to work in support of Innovatia’s e-learning contracts with Nortel Networks.
To provide our customers with fully integrated, comprehensive e-learning solutions, Innovatia works with industry leaders. We recognized that the capabilities of LearnStream matched our need for skilled expertise and experience in the area of custom courseware design for interactive Web-based delivery, said Robert Neal, President of Innovatia. Our multi-dimensional approach to learning leverages the power of the Web while integrating classroom-based learning and positions us to excel in the growing corporate training market.
Our expertise is creating inspired courseware, said Ken Reimer, president and CEO of LearnStream. By working with Innovatia, we’ve been given an opportunity to leverage this expertise and build a unique capability in the telecom product training area. The equity injection from Innovatia will help us fund our rapid growth strategy, including the expansion of our research and development efforts.
Innovatia recognizes that the knowledge economy is a significant part of the future growth of Atlantic Canada and we are pleased to invest in a local company such as LearnStream, added Neal. We look forward to working with them in the dynamic area of e-learning and to further contributing to the development of this industry in the region.
Innovatia’s Interactive Knowledge division is a Nortel Networks Premier Education Partner and primary provider of end-to-end, interactive Web-based learning solutions to customers and employees of Nortel Networks. Innovatia currently delivers both traditional training and documentation services as well as e-learning packages for Nortel Networks’ DMS portfolio.
Innovatia recently signed a second agreement with Nortel Networks to provide the Web-based training and documentation services for the Nortel Networks’ 3G UMTS wireless portfolio. LearnStream will support Innovatia’s content development team in the development of interactive Web-based learner packages for both portfolios.
