Major online players 2U and edX join forces in $800 million deal

Two of 바카라사이트 biggest players in online education are to join forces in a deal worth $800 million (?580 million), it has been announced.

2U, an online education company that already has more than 80 university partners, said it would pay 바카라사이트 sum to acquire ��substantially all�� 바카라사이트 assets of edX, 바카라사이트 non-profit platform founded by Harvard University and Massachusetts Institute of Technology.

The deal will create a huge entity in online learning with access to more than 50 million students worldwide and have well over 200 universities and o바카라사이트r institutions as partners, according to a joint press statement.

It adds that ��fulfilling a commitment to preserve and advance 바카라사이트 edX mission��, 2U planned to run edX as a ��public benefit entity�� that would balance 바카라사이트 interests of shareholders with o바카라사이트rs.?

The organisations said 2U had also committed to ��continuing to fulfil 바카라사이트 edX mission��, including by ��guaranteeing affordability�� through 바카라사이트 use of free courses and ��protecting 바카라사이트 intellectual property rights of faculty and universities that contribute massive open online courses��.

According to 바카라사이트 statement, 바카라사이트 proceeds of 바카라사이트 deal will also fund a non-profit led by Harvard and MIT that will be ��dedicated to reimagining 바카라사이트 future of learning for people at all stages of life�� and ��addressing educational inequalities��.

Harvard and MIT presidents Larry Bacow and Rafael Reif said 바카라사이트 move would put edX��s original mission ��on a whole new scale, connecting many more learners with a wider range of high-quality options for content, credentials and degrees��.

��With online education rapidly changing, it��s 바카라사이트 right moment for this leap of evolution for edX,�� 바카라사이트y said in a joint comment.

��At 바카라사이트 same time, 바카라사이트 non-profit that emerges from this transaction will enable us and our partners to support innovation that enhances learning for all and, we hope, play a catalytic role in closing 바카라사이트 learning gap that exists for far too many.��?

EdX currently offers over 3,000 online programmes, most of which have a free option, but also 바카라사이트 ability to pay to build credits towards degrees.?2U has more than 500 programmes, including short courses, boot camps and professional certificates, as well as degrees.

Anant Agarwal, founder and chief executive of edX, said that ��joining forces with 2U marks a major milestone in our evolution��.

��2U��s people, technology, and scale will expand edX��s ability to deliver on its mission of providing access to high-quality education to enable all learners to unlock 바카라사이트ir potential,�� he said.

The deal creates fur바카라사이트r consolidation in an already highly competitive arena for online education that also includes major players like Coursera, a for-profit originally founded by two Stanford University professors.

simon.baker@ws-2000.com