Kosmos Acquires Majority Share in Thames & Kosmos
New CEO to Guide Company
Playthings Staff -- Gifts and Dec, 2/21/2013 11:37:26 AM
PROVIDENCE, RI - Thames & Kosmos completed a major new investment agreement with its primary partner company, Germany-based Kosmos International GmbH. Kosmos, a 191-year-old publishing house, becomes the principal shareholder in the 12-year-old Thames & Kosmos, which is known for its science kits. The deal will boost Thames & Kosmos marketing, product development, and logistical resources.
For 10 years, Thames & Kosmos has been steadily growing the sales of the company's science kits. "Recently, it became clear that in order to grow to the next level, we would need new capital," said T&K president Ted McGuire. "It made the most sense for the future of the company to align closer with Kosmos."
"With this investment, we aim to strengthen T&K's position in the U.S. market as well as grow the entire U.S. market for science kits by continuing to introduce innovative products. Kosmos is entering an important phase in its development by accelerating international expansion and supplementing the physical products with digital components and apps," said Michael Fleissner, CEO and main shareholder of Kosmos. Kosmos also recently acquired USM, a producer of educational software games and app publisher with many educational games.
Thames & Kosmos also hired a new CEO, Andrew Quartin, who is tasked to expand distribution, raise awareness of the brand, and further integrate the two companies. Most recently, Quartin was a portfolio manager at Schottenfeld Associates, where he managed a portfolio of media, retail, technology and diversified consumer products companies.
We would love your feedback!