KNeoMedia Limited announced that it is expanding into the Republic of the Philippines after executing a Letter of Intent (LOI) that will see long established financial institution Vizcaya Banki distribute the company's high-quality education software to schools across the country in a coordinated program with relevant government authorities. Under the terms of the LOI, a subsidiary of Vizcaya will sell two of KNeoMedia's highly-regarded education software products, KNeoEd and KNeoESP, directly to education departments in the Philippines on a revenue-split basis, with the arrangement including minimum sales performance hurdles. As English is the primary education language no further translation of the KNeoMedia products will be required. The rollout will be coordinated through the Philippines' Department of Education and, where appropriate, the Commission on Higher Education (CHED) and the Technical Education and Skills Development Authority (TESDA).

Vizcaya Bank President and CEO Ms. Isabelita Perez will personally lead the distribution opportunity and develop marketing plans through a service affiliate of the Bank. Ms. Perez previously held senior treasury positions at City University of New York, where she was instrumental in developing financial scholarship and other programs that benefitted the institution's diverse student body, which now exceeds 600,000.