Sylvan Ventures Completes Acquisition of National Technological University
The Higher Learning Commission of the North Central Association (NCA), which provides regional accreditation for NTU, extended that accreditation after reviewing the terms of Sylvan’s acquisition of 100% of NTU from Stratys Learning Solutions, Inc. The NCA decision and Sylvan’s acquisition were both effective November 4. The acquisition price was $14.5 million.
The Commission’s approval follows Sylvan Ventures’ February, 2002 disclosure of its plans to acquire NTU, a distance education university which offers master’s degree and professional development programs in engineering, information technology and business and management.
At that time, Sylvan Ventures contracted with the Online Higher Education division of Sylvan Learning Systems, Inc. to provide management services, student recruitment, marketing and technical support to the University.
“NTU represents a key pillar in Sylvan’s Online Higher Education strategy of providing the highest-quality accredited degree programs, delivered at a distance, to working professionals. NTU brings unmatched expertise, knowledge and credibility in the disciplines of engineering and information technology,” said Sylvan Online Higher Education President and CEO Paula Singer. “At the same time, today’s announcement allows us at Sylvan to accelerate efforts to strengthen NTU’s university and corporate partnerships, improve our services and systems for the benefit of faculty and students, and continue to add value to an NTU degree.”
Ms. Singer added that while Sylvan is likely to announce new initiatives in the months to come that will underscore those commitments, neither those announcements nor today’s would alter NTU’s mission, its student-centered focus or the breadth of its educational offerings. “From an academic and programming standpoint, our students and university partners will see few changes,” she said.
NTU, which offers a range of master’s degree programs in partnership with more than 50 of the nation’s top-ranked university programs in engineering, information technology and management, recently began its Fall, 2002 with an enrollment of 588 degree-seeking students, and 368 non-degree students.
Most NTU students are working technical professionals employed by some of the nation’s best-known and -respected corporations and government entities.
About National Technological University
National Technological University, a pioneering and leading distance-learning organization, was founded in 1984 as the first accredited “virtual” university. NTU has granted more than 1,600 master’s degrees to individuals who have completed their program of study while working as full-time employees.
Today NTU offers 19 master’s degree programs with courses supplied through a consortium of 52 U.S. universities. Courses are delivered via satellite, online, CD-ROM, and videotape. NTU is accredited by the Higher Education Commission of the North Central Association. For more information, visit www.ntu.edu or call 1 800 582 9976.
About Sylvan Learning Systems, Inc.
Sylvan Learning Systems, Inc. (www.sylvan.net) is the leading provider of education services to families and schools worldwide. The Sylvan Learning Center business provides personalized instruction services to K-12 students through direct consumer relationships. Sylvan Education Solutions provides tutoring and related services under contract to school systems.
Sylvan provides courses to adult students throughout the world in the areas of teacher training, and accredited university offerings through Online Higher Education and Sylvan International Universities. Sylvan International Universities is pioneering the largest and most ambitious network of post-secondary education institutions worldwide.
Sylvan Ventures, Sylvan’s research and investment vehicle, focuses on bringing emerging technology solutions to the education and training marketplace.
CONTACT:
Sylvan Learning Systems, Inc.
Sean Creamer, 410/843-8991
Steve Drake, 410/843-6295
Chris Symanoskie (Investor Relations), 410/843-6394
