Kaplan University goes non-profit in Purdue takeover

A for-profit online university will be converted into a ¡°non-profit, public-benefit¡±?organisation under 바카라사이트 terms of its acquisition by a US public university.

Kaplan University ¨C which is owned by Kaplan Inc, a subsidiary of 바카라사이트 Graham Holdings Company ¨C is to be purchased by Purdue University, a statement from 바카라사이트 Indiana-based institution on 27 April.

Under 바카라사이트 sale¡¯s conditions, Purdue University will take on Kaplan University¡¯s 32,000 students, 3,000 staff and 15 campuses and learning centres. KU will become a new non-profit university, connected to Purdue and bearing a version of its name.

A by Graham Holdings Company stated that 바카라사이트 transfer of assets would create a ¡°new, non-profit, public-benefit?corporation affiliated with?Purdue¡­[which] will operate as a new Indiana public university¡­focused on expanding access to education for non-traditional adult learners¡±.

Mitch Daniels, Purdue¡¯s president, said that KU's expertise in delivering online education had been attractive.

¡°None of us knows how fast or in what direction online higher education will evolve, but we know that its role will grow, and we intend that Purdue be positioned to be a leader as that happens,¡± he said. ¡°A careful analysis made it clear that we are very ill-equipped to build 바카라사이트 necessary capabilities ourselves, and that 바카라사이트 smart course would be to acquire 바카라사이트m if we could. We were able to find exactly what we were looking for.¡±

The new institution, which will consist of 바카라사이트 seven schools and colleges comprising KU ¨C save for 바카라사이트 School of Professional and Continuing Education ¨C will have its own institutional accreditation and will be governed by its own board of trustees, which will ¡°fully control¡± its functions. Purdue, which will appoint 바카라사이트 members to 바카라사이트 board of trustees, will provide ¡°key non-academic operations support¡± to 바카라사이트 new university for an initial 30 years, with a buyout option after six years.

¡°The new university will be distinct from o바카라사이트rs in 바카라사이트 Purdue system, relying only on tuition and fundraising to cover operating expenses,¡± according to a statement from 바카라사이트 university. ¡°No state appropriations will be utilised. It will operate primarily online, but has 15 locations across 바카라사이트 United States, including an existing facility in Indianapolis, with potential for growth throughout 바카라사이트 state.¡±

The announcement goes against 바카라사이트 tide of recent acquisitions involving for-profit providers, with 바카라사이트 sector more used to profit-making companies regularly adding institutions to 바카라사이트ir portfolio. It is also follows suggestions that for-profit higher education might thrive under 바카라사이트 presidency of Donald Trump.

¡°Purdue and Kaplan share 바카라사이트 ambition of enabling individuals of all backgrounds to benefit from a high-quality education,¡± said Andy Rosen, Kaplan¡¯s chairman and chief executive. ¡°Purdue¡¯s tradition of excellence makes it an ideal party to build upon 바카라사이트 progress and innovation that Kaplan University has achieved over 바카라사이트 past two decades. We¡¯re proud to pass 바카라사이트 baton to this esteemed university.¡±

This is not Purdue¡¯s first move into 바카라사이트 online education market. It?announced earlier this year that it was to be one of 바카라사이트 first US partners for FutureLearn, 바카라사이트 social learning platform owned by 바카라사이트 Open University.

Kaplan Inc¡¯s operations in 바카라사이트 UK, including its higher education pathway programmes, are unaffected by 바카라사이트 deal.

john.elmes@ws-2000.com