Britannica.com Inc. has announced that Israel's Bezeq corporation plans to invest $4 million in Britannica Learning Channels (Israel) (BLC) in exchange for an equity stake in the subsidiary. So reports the Bi-Weekly Economic Update. The proposed investment by Bezeq will give the company a post-investment valuation of $9 million.
BLC will build educational Web sites targeted at Israeli Kindergarten to 12th grade students, parents and teachers. BLC is a wholly owned subsidiary of Britannica.com Israel, which in turn is a wholly owned subsidiary of U.S.-based Britannica.com Inc., creator of leading consumer and educational Web sites. Britannica.com Inc. is the digital sister company of Encyclopaedia Britannica, Inc., publisher of the well-known encyclopedia. Bezeq's interest in developing digital content stems from its desire to create widespread demand for broadband internet access, a service that the company provides.
BLC will build educational Web sites targeted at Israeli Kindergarten to 12th grade students, parents and teachers. BLC is a wholly owned subsidiary of Britannica.com Israel, which in turn is a wholly owned subsidiary of U.S.-based Britannica.com Inc., creator of leading consumer and educational Web sites. Britannica.com Inc. is the digital sister company of Encyclopaedia Britannica, Inc., publisher of the well-known encyclopedia. Bezeq's interest in developing digital content stems from its desire to create widespread demand for broadband internet access, a service that the company provides.