Read Zacks_Analysts' blog in RSS
April 20, 2010
Share This
In an asset transfer transaction, Apollo Group Inc. (APOL) – a leading private education company in the world, has recently added the Western International University to the education network of its majority-owned subsidiary Apollo Global Inc. The transaction would enable Apollo Global to leverage on its resources to drive future growth and establish itself as a premier education company in the U.S.
Formed in 2007, Apollo Global is a joint venture between Apollo Group Inc. and The Carlyle Group, a global private equity investment firm with over $88.6 billion of equity capital under management. The transaction included a capital contribution from the Carlyle Group, and provided for an initial cash payment along with a future performance-based earn-out.
Within the Apollo Global network, Western International University will collaborate with BPP Holdings Plc. – a U.K.-based provider of education and training to legal and finance professionals, which was acquired by the former in July 2009; UNIACC – an arts and communications university in Chile, which was acquired in April 2008; and ULA – a communications, business, and medical university in Mexico, which was acquired in August 2008.
Founded in 1973, Apollo Group offers both online and on-campus educational programs and services at the high school, undergraduate, graduate and doctoral levels. The company owns and operates through its subsidiaries such as the University of Phoenix, College for Financial Planning, Meritus University, Apollo Global, and Institute for Professional Development.
Read the full analyst report on "APOL"
Zacks Investment Research