Created Equal Sells TeachIT Engine for $2 Million

Grass Valley, CA May 24, 2007

Eight months after releasing TeachMac to wide distribution, Created Equal announced today that it has concluded an agreement to sell TeachIT Engine, the technology behind TeachMac and TeachIT for $2 Million. Created Equal will retain rights to the names TeachMac and TeachIT as well as the web sites and will license the TeachIT Engine so that TeachMac and TeachIT will continue as before. Other terms of the agreement as well as the buyer were not disclosed. 

“Version 5 of TeachMac and TeachIT will be the last developed by us,” Created Equal President, Byron Turner said. We think this deal will benefit everyone. Customers will get faster improvements to TeachMac/TeachIT. Free from the expense of building the applications, authors will get a greater return on their investment from our revenue sharing and author rewards programs. Most importantly, Created Equal can pursue its key initiative, the Oasis Project.”  

Byron Turner and his wife Allison Minch are offering to personally match up to $1 Million in donations to the Oasis Project through the end of the year. The money for this match comes from years of the back salary owed the couple. For more information about the Oasis Project, go to www.teachmac.com or www.createdequal.com.