Generational Equity, a leading mergers and acquisitions advisor for privately-held, middle-market businesses, is pleased to announce the acquisition of the CPA Review Division of its client, Matrix Learning Systems, Inc., headquartered in Littleton, Colorado, by Abitus, headquartered in Tokyo, Japan. The acquisition closed on February 18, 2014.
Founded over 10 years ago, Matrix Learning Systems Inc. sells computer-based professional certification exam preparation courses with textbook supplements and exam preparedness assessment tools. Approximately 50% of the Company's total revenue comes from sales of ExamMatrix's CPA Exam Review software, preparation materials, and support services.
Customers include accounting firms, corporate entities and resellers. The Company has a fully-functional, e-commerce-enabled website and is well-positioned within its industry. Managing Directors Stephen Crisham and Mike Meredith, along with their affiliate David Lewis, led the Generational Equity deal team that advised Matrix Learning Systems, Inc., on the transaction. Abitus, Inc., is based in Tokyo, Japan and offers business development courses in various areas from CPA to Master programs. Abitus' courses for professional development are focused on those for the world's "de facto standard" professional qualifications. Abitus is the market leader in CPA education in Japan with an annual enrollment of over 1,000 students.
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