Capas, a private investment firm established in Detroit last year, has acquired E-Learning Mind, a small San Diego ed-tech company that develops learning programs for corporate customers in such areas as sales training, product knowledge, and health and safety procedures.
Financial terms of the deal were not disclosed in a statement released Monday. Laura Price, a spokeswoman for E-Learning Mind, says the five-year-old ed-tech company currently has 20 employees and more than 80 customers, including Citigroup and Nestle—with annual revenue approaching $1 million.
In an e-mail, Price writes, “This acquisition was a talent and client book acquisition and therefore they are keeping the core team in place, as they were one of the primary reasons for the investment.” Capas made the investment, she adds, “to infuse capital into E-Learning Mind, and advance their product team, sales team, and brand.”
Capas founder and managing partner Simon Casuto became the ed-tech’s president and managing partner, and plans to overhaul the E-Learning Mind brand and product. Capas managing partner Andrew Fayad has taken over as CEO. E-Learning founder Jack Makhlouf has moved to a new position as director of e-learning, and plans to focus on developing learning experiences for customers that combine the latest innovations in design, technology, and multimedia.
Author: Bruce V. Bigelow
In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here.
Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University.
Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.
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