FOMC - Expanding into the E-Learning Market

2023-04-20 13:09:06 ET

The %eLearning market is expected to experience significant growth, and this company just entered the global corporate market with a new acquisition.

%FomoWorldwide () agreed to acquire Business Media Solutions, Inc., a provider of online learning, digital marketing, education content, and platform management services. Business Media Solutions serves companies across a wide array of agriculture and food manufacturing industries through customized programs for training staff, distribution, operations business processes, compliance and safety. In addition, these verticals can be applied to manufacturing, K12 and post-secondary education, healthcare, and more.

The BMS purchase is now a definitive agreement subject to closing next month. Vik Grover, FOMO’s CEO had this to say, “The BMS purchase provides our Company accretive revenues and margin, a platform for growth and expansion into high growth markets, and potential synergies with our portfolio of investments. We intend to leverage BMS as a beachhead into online training and compliance and expand into new verticals worldwide to multiply its scope and scale.”

Shares were trading down in Thursday trade.