CALGARY, Alberta-Zi Corp. announced it sold off its Beijing-based educational service provider business in order to concentrate on its predictive-text technology. Zi said it sold its Oztime and English Practice businesses to Archer Education Group Inc. for 4.1 million shares. The value of the shares of privately held Archer was not available.
“We are excited to see Oztime as part of Archer given its sharp focus on the opportunities associated with international education and its record of success thus far,” said Michael Lobsinger, Zi’s chief executive officer. “The sale of Oztime to Archer in return for an equity position alleviates Zi from the allocation of management and resources to Oztime and allows Zi to participate in Archer’s value creation.”
Zi makes the software that helps mobile-phone users type out words with a 10-key keypad by predicting what words they are trying to type. The company sells the software to handset makers and other electronics companies. Zi’s Oztime business offers market-driven and career-oriented certificate programs to people between the ages of 16 to 35.
