Adtalem to buy Walden University from Laureate for $1.48b
Laureate Education has announced it will be selling online institution Walden University to Adtalem Global Education Inc for US$1.48 billion.
Minnesota-based Walden University is a regionally accredited higher education institution in the United States offering online doctoral, master’s, bachelor’s, and graduate certificate programs, and is currently owned by for-profit education network Laureate International Universities.
Adtalem Global Education owns and operates a wide network of private educational institutions including Chamberlain University, Ross University School of Medicine, American University of the Caribbean School of Medicine, Association of Certified Anti-Money Laundering Specialists, Becker Professional Education, EduPristine, and OnCourse Learning.
The sale of Walden University follows on the heels of Strategic Education announcing earlier this summer that it will be acquiring Laureate Education’s institutions in Australia and New Zealand – Torrens University Australia, Think Education in Australia and Media Design School in New Zealand – for US $643 million.
Walden University ownership will transfer from Laureate to Adtalem in 2021
Laureate Education disclosed that Walden University will remain under its network till the closing of the acquisition transaction, which is expected to occur in 2021.
The transaction value will be $1.48 billion in cash, after completion of customary adjustments and the transaction is subject to customary closing conditions, including regulatory approval by the U.S. Department of Education and the Higher Learning Commission.
Reflecting on the acquisition, Eilif Serck-Hanssen, President and Chief Executive Officer of Laureate, said: “Walden University was a pioneer in distance education, and today 50 years later it remains a leader in digital learning in higher education. We are incredibly proud of Walden’s legacy of creating affordable access to quality graduate education through an unwavering commitment to innovation and student outcomes.
“Walden University provides its more than 52,000 students with the tools to transform themselves so they can have a positive impact on their communities and the world.”