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Lingo Media mulling M&A opportunities as it advances its English language learning offerings

The company provides both online and print-based solutions or English language learning through two business units

Lingo Media Corporation -
ELL Technologies provides online training and assessment, while Lingo Learning is a print-based publisher of English language learning programs in China

Edtech group Lingo Media Corporation (CVE:LM) (OTCMKTS:LMDCF) said it is positioning itself for accelerated growth, as it posted second quarter financial results.

The company provides both online and print-based solutions or English language learning through two business units - ELL Technologies and Lingo Learning. 

READ: Lingo Media 1Q revenue jumps on strong global demand for English language learning products

ELL Technologies provides online training and assessment, while Lingo Learning is a print-based publisher of English language learning programs in China.

"Lingo Media continues to focus on developing innovative software and content in order to meet the growing global demand for English language learning products from government, academic institutions, and employers," said Gali Bar-Ziv, CEO and president of Lingo Media in a statement.

"The investment that we have been making in our new Learning Management System is positioning ELL Technologies for 2019 and beyond."

Bar-Ziv noted that ELL Technologies had released a number of updates including unique personalization capabilities and recordings of speech exercises for teachers.

Added sales personnel

"Furthermore, we have added sales personnel and have expanded our network of distributors and representatives with the focus of generating sales and working on larger size government level deals. These deals can have a longer sales contract completion cycle which we have been managing. We are also valuating M&A opportunities to position the company for accelerated growth," he added.

Lingo Media's net profit for the three months to end June came in at C$430,651  compared to C$477,208 in the same period of 2018 on revenue of C$895,205 (2018: C$960,159).

Contact the author at [email protected]

Quick facts: Lingo Media Corporation

Price: 0.04 CAD

TSX-V:LM
Market: TSX-V
Market Cap: $1.42 m
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