Under an exclusive six-year License and Distribution Agreement for Destination Math, RM will actively market, promote and distribute a version of Riverdeep’s Destination Math online courseware, specifically localized by Riverdeep to support the requirements of the UK National Curriculum. Concurrent with the signing of this agreement, the parties have also entered into a License and Distribution Agreement for Living Library, whereby RM will license Living Library, its Internet content service, to Riverdeep for non-exclusive distribution in the US market for a six-year period.
The courseware to be provided to RM as part of this agreement includes Riverdeep’s High School Basic Math, Pre-Algebra and Mastering Algebra titles as well its new elementary maths product. Localization is slated to begin immediately for completion by March 2001, providing RM with over two thousand hours of online content.
RM’s Living Library product, which will be branded as RM Living Library and localized for the US market, is an online information resource bringing together a wide range of curriculum reference materials from information providers such as World Book, Corbis and Oxford University Press. Living Library is widely used by UK primary and secondary (K-12) schools and is the leading product of its kind in the UK.
Richard Girling, Chief Executive of RM plc said:
RM and Riverdeep have a common aim of providing the world’s best online learning resources to the education sector. I am delighted to be working with an organisation that shares our passion for using technology to improve standards in teaching and learning. Riverdeep is an excellent partner for RM to work with in taking its online education content into the USA. I am confident that Riverdeep’s subscribers will get significant value from Living Library’s unrivalled collection of information resources. Destination Math, which will be delivered as part of our RM.com applications service provider strategy, is a proven product that adds real strength to RM’s existing range of maths learning software. We now have products that address all aspects of maths learning across the primary, secondary and lifelong learning markets.
Barry O’Callaghan, Chief Executive Officer of Riverdeep Group plc said:
We are very excited to be partnering with RM as they are clearly the leading supplier of educational technology to the UK schools market. We believe that the selection of Destination Math to complement their portfolio of math learning software is a testimony to the quality of our content and will enable Riverdeep to gain significant market share in this key European market. The effectiveness of Destination Math as a teaching tool has been demonstrated in the US and we believe that this will promote the use of the Internet in British classrooms and be of immense benefit to both students and teachers. We are also delighted to be bringing RM’s Living Library to the US through our educational portal riverdeep.net and we are confident that US students will find this an invaluable educational resource. We are particularly pleased to enter into this relationship with RM, which we see as the beginning of a long term strategic alliance with the leading company in the UK in this space.
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