Dive Brief:
- On Tuesday, Apollo Education Group its acquisition of Milpark Education, one of South Africa’s leading private tertiary education providers.
- The price tag: About $25.6 million, based on current exchange rates.
- Milpark is known for its course offerings for working adults, including courses in business, investment, banking, financial planning, insurance, and government management.
Dive Insight:
This deal gives Apollo a foothold in the African market, which features seven of the fastest growing economies in the world. In a press release, Apollo Global President Curtis Uehlein said that further expansion in Africa is planned. Milpark provides its courses mostly via distance education and, in some cases, through classroom learning. The company offers a range of higher education certificates, a bachelor of business administration degree, a bachelor of commerce with specializations, postgraduate diplomas and a master of business administration. The Milpark acquisition follows Apollo's purchase of Open Colleges Australia, a big distance education player in that country.