US$6m revenue secured for KneoMedia for three year licencing period
SYDNEY, Dec. 1, 2022 /PRNewswire/ — KneoMedia Limited (ASX: KNM, OTC: KNEOF) is pleased to announce the largest deployment of the ‘Connect All Kids’ education initiative to date with 40,000 Dell Chromebooks being deployed into eleven school districts in New York City. With the total deployment valued at US$24 million, KNM will receive US$6 million for a three-year licencing period, to be paid upfront in the first year.
The completion of this deployment follows an extended period of collaboration between KneoMedia, Dell Technologies, and the National Association for the Advancement of Colored People (NAACP) under the ‘Connect All Kids’ initiative.
Chief Executive Officer, James Kellett, said:
"This much larger-scale deployment is a major validation of KneoWorld’s world-class education and assessment capability and the outcomes it is delivering to students. Whilst it will provide the Company with a material boost to FY23 revenue, it also establishes an exciting platform for further growth through KneoMedia’s status as a preferred education provider to the New York City public school system."
The deployment follows an announcement by Dr Hazel Dukes, New York State President for NAACP where she stated to the NAACP member base:
"We have recently negotiated with the NYC Department of Education and will be giving out 40,000 additional devices in this outstanding Dr. Hazel N. Dukes Education Initiative. The Initiative members, Dell Technologies, KneoWorld and STEM Happens Network will continue to provide Professional Development in the schools where these additional devices will be sent to the Districts in our Initiative.
"We have already given out over 6,000 Dell Chrome books and have provided professional development with STEM, along with Story and Task based Learning with Analytics from KneoWorld to the teachers and parents in all the schools in those districts from our outstanding team members."
About KneoMedia Limited
KneoMedia Limited (ASX: KNM) is a SaaS publishing company that delivers world-class education and assessment products to global markets in both general and special education classrooms via its KneoWorld. The KneoWorld platform is a story-based and game assessment learning program that provides engaging and effective ways for students to process and apply academic skills and concepts. View a recent presentation from the CEO here.