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TWST: What is Educate?
Mr. Hoehn-Saric: Educate is the leading provider of products and
services to the K-12 family in the school marketplace. It includes very
well known and trusted brands that reach consumers, including the Sylvan
Learning Center brand, the Hooked on Phonics brand and the Reading
Rainbow brand, all of which reach consumers through learning centers,
products and services, selling directly to consumers and to schools. TWST: What does the overall marketplace look like today? What is the
industry facing as far as issues and trends?
Mr. Hoehn-Saric: The overall marketplace for education in the K-12
market is about $800 billion. However, the addressable market that we
aim toward is a $12 billion segment of that marketplace that involves
primarily consumer related spending activities and some spending
activities that involve schools. It is a highly fragmented marketplace
with thousands of mom and pop and individual providers. There are no
recognized single leaders in that market other than the brands and
programs that we provide. So it's a highly fragmented, growing
marketplace, especially in light of the importance that parents are
putting on the education of their children. The market and the
opportunity we see is the consolidation within that marketplace around
large companies that actually can provide a host of services and
products, meeting parents' needs from the time that kids are pre-K all
the way through 12th grade, as they go toward college. We think we could
be one of the real market leaders there.
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