Career Education Corporation Acquires Canadian Design Technologies and IT College.Business Editors HOFFMAN ESTATES Hoffman Estates A village of northeast Illinois, a suburb of Chicago. Population: 49,700. , Ill.--(BUSINESS WIRE)--Oct. 3, 2000 Career Education Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : CECO CECO Council of Engineering Companies of Oregon CECO Cost Estimate Change Order CECO Center for Economic and Community Outreach CECO CENTCOM Engineer Contingency Organization CECO Concrete Engineering Company of Omaha (Ceco Concrete Construction LLC) ) announced today it has acquired Retter Business College, an Ottawa, Canada-based design technologies and information technology school. Terms of the transaction were not disclosed. "This acquisition offers us the opportunity to move into Canada's capital city, which is fast becoming the country's telecommunications center A facility, normally serving more than one organization or terminal, responsible for transmission, receipt, acceptance, processing, and distribution of incoming and outgoing messages. ," said John M. Larson, chairman, president and chief executive officer. "Consistent with our other CEC (Central Electronic Complex) The set of hardware that defines a mainframe, which includes the CPU(s), memory, channels, controllers and power supplies included in the box. Some CECs, such as IBM's Multiprise 2000 and 3000, include data storage devices as well. schools, Retter Business College has an excellent reputation within its areas of specialization and offers us new opportunities to place our graduates in exciting, high-paying jobs in the new economy. We will be drawing students from an area where there is strong demand for the type of training we provide." Retter Business College offers a variety of diploma programs in multimedia Web development, software engineering and computer network engineering. The school's 12-month diploma software engineering program specializes in either E-commerce and data base development or telecommunications. Retter Business College is CEC's second Canadian acquisition this year. In July, CEC acquired SoftTrain Institute in Toronto. CEC also has two International Academy of Design schools, one in Toronto and another in Montreal. Career Education Corporation is one of the largest providers of private, for-profit, postsecondary education in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . The Company currently operates 30 campuses in 15 states and two Canadian provinces. CEC schools enjoy long operating histories and offer a wide variety of bachelor's degree, associate degree and diploma programs in career-oriented disciplines within the Company's core curricula of visual communication and design technologies, information technology, business studies and culinary arts. The forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. contained in this release are based upon various assumptions, and certain risks and uncertainties could cause actual results to differ materially from those stated. Factors that could cause such differences include those matters disclosed in the Company's filings with the Securities and Exchange Commission (SEC). Career Education Corporation assumes no obligation to update its forward-looking statements. |
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