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Rosetta Stone buying Tell Me More for $28 million

Wednesday - 12/11/2013, 1:19pm  ET

ARLINGTON, Va. (AP) -- Foreign language education company Rosetta Stone is buying language-learning software company Tell Me More SA for $28 million including assumed debt.

Rosetta Stone President and CEO Steve Swad says the transaction will give the company a presence in China and bolster its European operations. In addition, the company plans to put Tell Me More's products in some of its consumer markets.

Tell Me More currently serves more than 3,000 customers globally.

Rosetta Stone Inc. expects the acquisition to contribute bookings of $25 million to $27 million in 2014.

The deal is targeted to close in January.

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