David Montgomery elected as Chairman of Espresso Education
21st January 2002
Former
Chief Executive of the Mirror Group plc, David Montgomery, has been
elected as Chairman by the board of broadband educational content
provider, Espresso Education. The appointment comes further to the
investment in Espresso by Mecom UK Management Co Ltd - a company
in which venture capitalist 3i has a 25% holding.
David will oversee Espresso's continued rapid expansion following the £2.7 million funding the company secured in October 2001. The investment deal was analysed and recommended by Mecom investment professionals Terry Connor, former Strategy Director of the Mirror Group, and Harry Buscall. David will provide valuable business and strategic advice as the company further develops its 'Espresso for Primary Schools' service - which utilises satellite technology to deliver weekly updates of video-rich curriculum learning materials to 450 subscribing schools - and launches a similar service for secondary schools in the year 2002.
A high profile figure throughout the business world, David Montgomery made his name between 1992-1999 when, following Robert Maxwell's death, he took the Mirror Group from a company with a market capitalisation of £230m to within months of disposal priced at £1.2bn. Other positions of responsibility held during this period include Non-Executive Director at the Press Association and Scottish Media Group as well as Chairman at London Live Television. David is also currently the Chairman of the Integrated Education Fund Development Board.
Commenting on his new role, David Montgomery, said:
I am delighted to be joining the board of Espresso Education. Espresso is an example of a British company that is pushing creativity to its limits. Through its innovative use of satellite technology and its talented design team, Espresso has established itself as one of the leading players in the educational content industry - a sector for which the UK is the envy of the world.
Lewis Bronze, Espresso Education's CEO, commented:
David's vast editorial, management and business expertise and experience adds a tremendous amount of value to Espresso. David is also a nationally known figure, very well networked and recognised in the media and the City, therefore adding great kudos to Espresso. I think it announces to the world, and to the educational community in particular, that Espresso is a very serious player.
Unlike other educational content providers, Espresso avoids the
frustration of download delays on the Internet and CD-ROM's by using
satellite technology to deliver its weekly information updates to
schools. A satellite dish and Espresso box - costing £1875
- are required to receive and store the information. For the average
primary school a subscription fee from £5 per pupil is payable
yearly.
For further press information or paper versions of this release please contact:
Espresso Marketing, Riverside Studios, Crisp Road, Hammersmith, W6 9RL
Tel: +44(0)20 8237 1200
Fax: +44(0)20 8237 1201
Email: info@espresso.co.uk
