HSW International Trims Fat, Gets $18.4 Million In Financing
Once the transaction closes, all of Atlanta-based HSW International's assets will be devoted to the online media business--as the two companies being divested are providers of wireless telephone training and educational software.
With fewer non-core businesses and the new funding from Eastern Advisors (an Asian Long/Short Equity Fund), the company will be able to focus on its goal of translating content from Discovery Communications' HowStuffWorks Web properties and publishing it in Brazil, Russia, India and China.
Discovery purchased HowStuffWorks and other properties, including ConsumerGuide.com from HSW International for $250 million in 2007. As part of the deal, Discovery gained a minority stake in the company and agreed to the international licensing agreement for HowStuffWorks content.