Printer Friendly

Aurelius buys AKAD University.

M2 EQUITYBITES-April 17, 2014-Aurelius buys AKAD University

(C)2014 M2 COMMUNICATIONS http://www.m2.com

17 April 2014 - German investor Aurelius AG (ETR:AR4) said today it had taken over local private distance learning provider AKAD University for an unspecified amount.

Under the terms of the deal, Aurelius bought AKAD Bildungsgesellschaft mbH and AKAD Kolleg fuer Erwachsenenbildung GmbH from publishing group Franz Cornelsen Bildungsgruppe mbH, it said.

AKAD University, which has around 9,000 students, is considered to be the second largest player in the market for private distance learning universities. Its most recent annual revenues came in at EUR16.5m (USD22.9m).

The transaction is Aurelius's second purchase from Franz Cornelsen, after that of tutoring services provider Studienkreis GmbH about a year ago. It is in line with the company's commitment in the area of private education, Aurelius said.

On the other hand, the sale fits in with Franz Cornelsen's strategy to focus on its core K-12 business and other publishing-related areas, Alexander Bob, chair of the vendor's management board, said.

Aurelius executive board member Donatus Albrecht noted that his company planned to further develop the university's programmes and add future-oriented courses of study.

((Comments on this story may be sent to info@m2.com))

COPYRIGHT 2014 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2014 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:M2 EquityBites (EQB)
Date:Apr 17, 2014
Words:206
Previous Article:Epirus concludes USD36m Series B financing.
Next Article:Dr Reddy's reports availability of FDA approved Eszopiclone tablets C-IV.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters