Social network agrees £2m education deal

Wambiz's platform on phones
Wambiz builds private social networks

A Birmingham-based technology company which runs a private social network platform has sold its distribution rights in the education market in a deal worth at least £2m.

Wambiz has sold the rights to Tribal Group, a £100m-turnover business which already offers a suite of educational technology products. The deal provides exclusivity in the UK, Australia and New Zealand and non-excusive rights in Canada.

Wambiz builds private social networks for schools, colleges and universities so teachers and students can communicate and collaborate. It replicates social media platforms, to encourage engagement, but has access and audit features that it says creates a safe and secure platform.

The company, based at Innovation Birmingham, was founded in 2012 by two Birmingham graduates, Harry Jawanda and Andrew West. They first met each other playing international hockey and both had begun careers in the City before founding Wambiz.

Tribal will pay £1.25m up front, with further payments of £289,000 in a year’s time, and £485,000 a year later. 34 existing customer contracts will move over and there is also the potential for a revenue share of future product sales.

Barbara Staruk, Tribal’s managing director of product and development, said: “We are pleased to be able to fully integrate the Wambiz solution, which is already proven at education institutes in both Higher and Further Education, into our new student information framework and look to providing our customers with exceptional support and even more innovative solutions as we move forward.” 

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