The merger of equals between Lingo Media Corp (TSE:LM) and Kickwheel Company, formerly Vested Finance Inc, is moving towards completion.
Lingo Media shares resumed trading again today (October 17).
Originally launched as the Schoold app in 2016 and newly branded as The College Fair powered by Kickwheel, the app continues to gain momentum with 1.2 million downloads.
"The combination of these two complementary companies creates a global platform for engaging, recruiting and coaching students," said Michael Kraft, president and chief executive of Lingo Media.
"The resulting operational efficiencies and scale are abundant, including numerous opportunities to cross-sell and market both companies' products and services to their respective client bases.
"For example, we will be able to market our ELL Technologies English language learning resources to students in Kickwheel's network of 3,000 plus colleges and universities.
"As a result, we expect to expand Lingo's footprint into the United States, driving adoption of our products in the U.S. post-secondary education market."
The education industry is 9% of US gross domestic product (second only to health care) and global digital language-learning spending is currently US$4.5bn and is expected to grow to US$9bn by 2020.
The US postsecondary marketing and recruiting spending is US$14bn and will grow to US$18bn by 2020.