December 19th, 2013
Vancouver-based Vivity Labs has been acquired by Rosetta Stone.
Rosetta acquired Vivity for $12 million in cash. Vivity is the creator of Fit Brains, an educational gaming platform that whose mobile app version has been downloaded five million times in the past year. The company has also created dozens of other online and mobile brain games.
“There is significant overlap between language learners and people who are looking to boost their cognitive abilities, as 15% of people who purchased a language-learning product in the past year also bought a computer-based brain fitness product,”Steve Swad, Rosetta’s CEO, said in a press release. “By acquiring Vivity Labs, we are capitalizing on this natural affinity between our products.”
The Fit Brains app brings an entertaining and cognitive training experience to the mobile platform, utilizing an adaptive learning system that is customized by level and adjusts as a person’s performance increases. It is a scientifically designed workout by award-winning neuroscientist Dr. Paul Nussbaum, who says the app’s program is developed to sharpen five major areas of the brain: memory, concentration, visual, speed, and problem solving.
Vivity Labs was founded by Cole, Nussbaum, chief scientific officer, and Mark Baxter, vice president of product.
The deal is expected to close in January.
Click here to read full article online.