EDUC - Educational Development to buy Learning Wrap-Ups

Educational Development Corporation (NASDAQ:EDUC) has executed a Letter of Intent to purchase Learning Wrap-Ups. Learning Wrap-Ups publishes a variety of supplemental learning materials for math, vocabulary, and science and all products include unique self-correction features. The commercial terms were not revealed. "Learning Wrap-Ups has annual sales of ~$1.5 million and the purchase price, resembling the value of the net assets acquired, will not materially impact the Company's financials". "We expect to increase the overall sales of Learning Wrap-Up products through EDC's existing Publishing and UBAM sales channels while also capitalizing on improved margins by owning Learning Wrap-Ups exclusively," says Craig White, President and CEO of EDUC.

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Educational Development to buy Learning Wrap-Ups