Tribeca focuses on financial services and products
TribecaCorporation has confirmed it will focus on providing services and products solely to the financial services industry, following the termination of its alliance with the online learning service for secondary students, Worldschool.
Tribeca, the parent company of the IntegraTec Group, announced last week it had ended its joint venture agreement with Curriculum Corporation, an organisation owned by the States’ Education Ministers. Curriculum Corporation took over the management of Worldschool in an outsourcing arrangement six months after the service was developed by Tribeca in June 2000.
The termination agreement, which was initiated by Tribeca, transfers the complete ownership of Worldschool to Curriculum Corporation.
“We are strategically 100 per cent focused on financial services and this consolidates our focus,” Tribeca managing director Adam Davis says.
Tribeca is now actively pursuing acquisitions related to its ambitions in financial services.
“We are looking at the four big areas at the moment: education and training, practice management, research (including technical support) and administration. We are exploring all four areas, both organically and through acquisitions,” Davis says.
While unable to reveal any specific details, Davis says Tribeca is in advanced discussions with at least two parties as part of its acquisition strategy.
Tribeca announced a $9.5 million cash balance after a revised share placing early last month. Davis says the group is in a good position to focus on its strategic growth plan.
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