Greenwood Hall to Acquire SaaS Cloud-Based Learning Management Platform for Integration into its Student Lifecycle Management Solution

Greenwood Hall Inc. (OTCBB: ELRN), education technology provider of dynamic student lifecycle management solutions for colleges and universities, today announced that it has entered into an agreement with privately owned Gambassa, Inc. to acquire its next-generation, cloud-based learning management platform for use in the education marketplace. When fully integrated with Greenwood Hall’s current offering, the platform will further enhance the company’s end-to-end solution and accelerate its expansion into the K-12 market.

Gambassa founder and Chief Executive Officer Gary Glass will join Greenwood Hall as Chief Creative Officer when the transaction is finalized, which is expected in the first quarter of 2015. Completion of the transaction is subject to approval by the Boards of Directors of both companies, among other closing conditions. Terms of the transaction were not disclosed.

“We are excited about the unique value proposition this technology will bring to schools, educators and students,” said Dr. John R. Hall, III, Ed.D., Chief Executive Officer of Greenwood Hall. “This transaction demonstrates our ability to execute on our growth strategy by expanding our end-to-end solution with a new turnkey offering for existing postsecondary clients and entering the K-12 market with a meaningful solution. We see significant opportunity in the K-12 market, which is challenged by the wide-spread adoption of Common Core curricula and the movement to integrate education with new technologies. We envision this platform as a game-changer for education in multiple areas—how our K-12 and postsecondary systems work together for the benefit of our students, collaborative learning, and the ability to embed student success directly into the learning process.”

“We believe that lifecycle should be an enduring one versus one that starts and ends. This new learning management platform helps us deliver solutions for our education partners that seamlessly integrate K-12, postsecondary education, career placement, and lifelong learning. The platform will enable schools and educators to easily launch academic programs— whether classroom, online, or hybrid—competency-based education initiatives, and multi-format curricula. By integrating our existing enrollment counseling, retention and career services, we will be able to further contribute to student success by incorporating it as a natural part of student learning,” Dr. Hall added.

“This is another example of Greenwood Hall’s commitment to technological innovation, keeping us at the forefront of the high-growth education technology sector. Our mission remains focused on improving outcomes for students and institutions, whether K-12 or postsecondary,” he concluded.

Features of this learning management platform are its unique workflow and collaboration tools, along with a publishing engine, analytics capabilities, multiple learning modalities and gamification, all of which are aimed at increasing educator productivity and improving student outcomes. The learning management solution is currently in its final development stage and is expected to be available to Greenwood Hall’s existing and new clients in early 2015. The base technology for the learning management platform has been successfully deployed at several highly regarded institutions, including post-secondary schools and K-12 school systems.

“Greenwood Hall’s long-standing relationships and leadership in the education market, proven development capabilities and nationwide infrastructure make it an ideal fit for Gambassa’s innovative learning management solution platform,” said Mr. Glass. “I look forward to working with the Greenwood Hall team to deliver a unique and comprehensive education technology platform that can create successful student outcomes.”

About Gambassa

Marina del Rey, Calif.-based, Gambassa provides a SaaS-based, next-generation stand-alone educational ecosystem for the K-20 and small-to-medium business markets. The Gambassa educational platform offers instructors and students a simple, effective and streamlined way to teach and learn online and in the classroom. More information is available at www.gambassa.com.

About Greenwood Hall

As a leading provider of education management solutions, Greenwood Hall helps public and not-for-profit higher education institutions generate sustainable improvements in operating and financial results while improving student success and satisfaction. Greenwood Hall’s solutions combine experienced personnel, proven processes and robust technology to provide end-to-end services that begin with recruitment and student enrollment and end with post-graduation job placement and career networking. Headquartered in Santa Ana, California, Greenwood Hall has facilities in Phoenix, Arizona, College Station, Texas and Shanghai, China. The company currently has 150 employees serving more than 30 education clients and over 70 degree programs. For more information, visit http://www.greenwoodhall.com, follow us on Twitter @GreenwoodHall and Facebook at http://www.facebook.com/GreenwoodandHall.

Forward-looking Statements

Certain statements contained in this document, including, but not limited to, completion of the acquisition of the learning management platform, predictions and projections that may be considered forward-looking statements under securities law, involve a number of risks and uncertainties that could cause actual results to differ materially, including, but not limited to, lack of consumer acceptance and demand for the Company’s products, insufficient working capital to expand the Company’s technology and engage in product marketing, intense competition from larger and more well-established companies, and other economic, competitive and technological factors involving the Company’s operations, markets, services, products and prices.