eRosurce Capital Group’s software and information technology subsidiary has signed a letter of intent to acquire SchoolWorld Software of Pittsburgh, PA.

eResource said the subsidiary would gain the assets of the company and also hire 10 people to open an office in Pittsburgh to work with current SchoolWorld customers. SchoolWorld, a developer of educational software, had more than $5 million in revenues over the past year, according to eResource.

eResource’s software group expects to produce $15 million in revenue in 2004 with this acquisition, the company said.

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