| October 26, 2005 --
Las Vegas, NV – RedRock Reports
LLC, the recently formed information service company for the K-12 education
market, has announced an agreement to acquire the assets of
School Funding Services (SFS), an
online federal grant information service that was part of New American Schools,
a leading provider of professional services and investment in K-12 education.
Earlier this year New American
Schools merged with the American Institutes for Research (AIR), an independent,
not-for-profit organization that conducts behavioral and social science research
on important social issues, and delivers technical assistance in the areas of
health, education, and workforce productivity. Subsequently, New American
Schools determined that School Funding Services did not fit within the new
vision of the organization moving forward.
According to Dr. Jennifer House,
president of RedRock Reports, the company sees the acquisition of SFS' assets as
an opportunity to enhance its service offerings. "School Funding Services was
highly regarded for helping K-12 educators and vendors track grant
monies for educational products," said Dr. House. “Adding SFS data and features
will make RedRock Reports the premier
source for information about federal, state, and foundation-based funding and
funding trends. With this acquisition and our expanded
services for sales training and grant
writing, RedRock Reports becomes an essential business tool.”
“We are pleased that this sale will
enable the service to continue in expanded form," said Sarah Truelsch of
American Institutes for Research. "SFS clearly fills a market need and we look
forward to seeing it succeed in the future."
The
transaction is expected to be consummated within 30 days.
RedRock Reports will announce
availability of the subscription service by March 2006. For more information
please contact Kate Mullen 866-787-7625.
ABOUT REDROCK REPORTS
Launched in September at the EdNET 2005
conference, RedRock Reports was created to provide the K-12 publishing,
technology, and services community with in-depth, timely data about education
funding and funding trends. RedRock Reports offers on-demand access to this
critical information and related analyses by subscription, Webcast, and custom
licensing arrangements. RedRock Reports helps vendors focus and target sales,
marketing and strategy, and helps educators target and pursue funding
opportunities.
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