Strayer Education Inc. Announces Acquisition of the Jack Welch Management Institute
HERNDON, Va.--(BUSINESS WIRE)--
Strayer Education, Inc. today announced that it has agreed to acquire
the Jack Welch Management Institute (JWMI), an online leadership
education program that offers a differentiated executive MBA degree and
With the acquisition of JWMI, Strayer University will further its
commitment of providing a high-quality online educational experience by
offering students and corporations the opportunity to learn real-world
business lessons from Jack Welch, the highly regarded former Chairman
and CEO of General Electric.
"We are delighted to offer JWMI programs at Strayer University," said
Robert S. Silberman, Chairman and CEO of Strayer Education. "With this
acquisition, we will offer students an executive MBA program that
combines a first-rate business education with the highest level of
academic quality and rigor. Jack's experience and success in the
business world serves as a solid foundation for the executive MBA
program and will expand our corporate training offerings."
Mr. Welch, a lifelong educator, built the GE Management Institute into
one of the country's premiere corporate universities. Following his
retirement from GE, Mr. Welch continued teaching business at MIT's Sloan
School of Management and in numerous other academic settings. In 2000,
he was named "Manager of the Century" by Fortune Magazine.
"Our vision has always been to build JWMI into the number one online
business school in the world," said Mr. Welch. "Combining with Strayer
University gives the Institute the educational foundation, the reach,
and resources to achieve this vision."
JWMI was founded by Mr. Welch and launched in 2009 as part of Chancellor
University. Strayer Education entered into a definitive agreement with
Chancellor University and S & J Welch, LLC to acquire the assets
associated with JWMI at Chancellor University. The transaction is
expected to close before the end of 2011 subject to regulatory approvals.
About Strayer Education, Inc.
Strayer Education, Inc. (Nasdaq: STRA) is an education services holding
company that owns Strayer University and certain other assets. Strayer's
mission is to make higher education achievable for working adults in
today's economy. Strayer University is a proprietary institution of
higher learning that offers undergraduate and graduate degree programs
in business administration, accounting, information technology,
education, health services administration, public administration, and
criminal justice to working adult students at 92 campuses in 22 states
and Washington, D.C. and worldwide via the Internet. Strayer University
is committed to providing an education that prepares working adult
students for advancement in their careers and professional lives.
Founded in 1892, Strayer University is accredited by the Middle States
Commission on Higher Education.
For more information on Strayer Education, Inc. visit www.strayereducation.com
, for Strayer University visit www.strayer.edu,
and for JWMI, please visit www.jwmi.com.
This press release contains statements that are forward looking and
are made pursuant to the "safe-harbor" provisions of the Private
Securities Litigation Reform Act of 1995 (the "Reform Act"). Such
statements may be identified by the use of words such as "expect,"
"estimate," "assume," "believe," "anticipate," "will," "forecast,"
"plan," "project," or similar words. The statements are based on
the Company's current expectations and are subject to a number of
assumptions, uncertainties and risks. In connection with the
safe-harbor provisions of the Reform Act, the Company has identified
important factors that could cause the Company's actual results to
differ materially from those expressed in or implied by such statements.
The assumptions, uncertainties and risks include the pace of growth
of student enrollment, our continued compliance with Title IV of the
Higher Education Act, and the regulations thereunder, as well as
regional accreditation standards and state regulatory requirements,
rulemaking by the Department of Education and increased focus by the U.
S. Congress on for-profit education institutions, competitive factors,
risks associated with the opening of new campuses, risks associated with
the offering of new educational programs and adapting to other changes,
risks relating to the timing of regulatory approvals, our ability to
implement our growth strategy, risks associated with the ability of our
students to finance their education in a timely manner, and general
economic and market conditions. Further information about these
and other relevant risks and uncertainties may be found in the Company's
Annual Report on Form 10-K for the fiscal year ended December 31, 2010
and in its subsequent filings with the Securities and Exchange
Commission, all of which are incorporated herein by reference and which
are available from the Commission. We undertake no obligation to
update or revise forward looking statements.
Strayer Education, Inc.
Mark C. Brown, Executive Vice President and
Sonya Udler, Senior
Source: Strayer Education, Inc.
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