Purdue To Acquire Kaplan To Make Online University
WEST LAFAYETTE — Purdue University is entering into an agreement with Kaplan University to acquire Kaplan and make it a non-profit, public online university.
The agreement was formalized in an SEC filing Thursday morning and a press conference from Purdue officials. The press conference was capped off by Purdue’s Board of Trustees unanimously voting to approve the agreement.
It will last for 30 years but gives Purdue the option to buy Kaplan outright after six years.
University President Mitch Daniels said they will focus solely on higher education degrees, not undergraduate degrees. Roughly 750,000 adult learners in Indiana alone are looking to pursue higher education degrees, according to Trustee Joann Brouillette.
Click here to read the entire SEC filing.
Source: WTHR