Shares of multimedia training company 7th Street.com (Nasdaq: SEVL), climbed 1-11/32 to 8-15/32 after the company announced that it will purchase Learn2.com, a leading consumer learning community. Under the terms of the agreement, 7th Street.com will issue approximately 1,544,000 shares of common stock. The acquisition is expected to close in 30 days.
7th Street.com, which sells downloadable tutorials for well-known computer programs on its Tutorials.com Web site, has seen its stock nearly triple since March 8th, when the company announced that it would become an anchor tenant in America Online’s Computing and Workplace Channels. Shares of 7th Street.com climbed 2-1/4 to 5 on the day that deal was announced.