K12 Inc. (K12 or the Company) is a technology-based education company. The Company offers proprietary curriculum and educational services created for individualized learning for students primarily in kindergarten through 12th grade, or K-12. The K12 proprietary curriculum is research-based and combines content with innovative technology to allow students with a wide spectrum of learning styles to receive an effective and engaging education regardless of geographic location or socio-economic background. This learning system combines a cognitive research-based curriculum with an individualized learning approach well-suited for virtual public schools, online school district-wide programs, public charter schools, hybrid programs and private schools that combine varying degrees of online and traditional classroom instruction, and other educational applications.
The Company delivers its educational content and learning systems to students primarily through virtual public schools, virtual private schools, and through sales directly to school districts as part of our institutional sales business. The Company offers its proprietary curriculum, learning kits, use of a personal computer, online learning platform and varying levels of academic and management services, which can range from targeted programs to complete turnkey solutions.
As of September 30, 2010, the Company served virtual public schools or hybrid schools in 27 states and the District of Columbia. The Company expanded into two new states in fiscal year 2011, Massachusetts and Michigan. In addition, the Company operates three online private schools (the K12 International Academy, The Keystone School, and the George Washington University Online High School), and also sells access to its online curriculum and learning kits directly to individual consumers.
In April 2010, the Company formed a joint venture with Middlebury College, known as Middlebury Interactive Languages LLC (MIL), to develop online foreign language courses. This new venture will create online language programs for pre-college students and will leverage Middlebury's recognized experience and reputation in foreign language instruction and K12's expertise in online education. In July 2010, the Company acquired all of the stock of KC Distance Learning, Inc. (KCDL), a provider of online curriculum and public and private virtual education. The Company also acquired certain assets from Cardean Learning Group LLC to form Capital Education LLC, a provider of online services to post-secondary institutions.
On December 1, 2010, the Company acquired American Education Corporation (AEC), a leading provider of research-based core curriculum instructional software for kindergarteners through adult learners. The acquisition of AEC has been included in the Company's results since the acquisition date of December 1, 2010. These acquisitions and the formation of MIL and Capital Education increase K12's portfolio of innovative, high quality instructional and curriculum offerings. In January 2011, the Company acquired a 20% minority interest in Web International Education Group, a provider of English language training for learners of all ages throughout China, including university students, government workers, and employees of international companies.