CBT Systems, the operating subsidiary of CBT Group, has been chosen as Sento Corporation's provider of interactive education software, under a two-year $2 million (£1.33 million) agreement. The software will be used to expand Sento's training services to include more than 700 computer-based training courses. The courses, available in six languages, give information technology professionals access to training.
"The demand for high-quality IT training is growing significantly worldwide as organisations strive to keep pace with changing technologies," said Mr Tim Moman, vice-president of business development at CBT. "We share Sento's commitment to meeting those changes through the development of innovative training technologies and solutions." The US Sento Corporation, like CBT, has its shares quoted on Nasdaq. It provides a wide range of out-sourcing solutions for organisations using Windows NT, UNIX, and Internet/Intranet. Sento said its partnership with CBT gave its customers new options for technical training.
It recently announced the completion of the acquisition of Functional Software, an Australian technology company. Capitalised at $22 million, its losses increased from $396,000 to $878,000 in the three months to June 1998, reflecting acquisitions offset by low margins.
CBT announced a 40 per cent drop in profits to $2.9 million in the third quarter of 1998, two weeks ago. There could be a recovery in the last quarter but previous growth rates are not expected for several quarters. Founder Mr Bill McCabe retook the reins of the company following a collapse in the share price from $60 to $10 million and the group's two most senior executives, Mr James Buckley and Mr Richard Okumoto, stepped down. The company is facing a number of class actions in the US because of the collapse in the share price.
