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U.S.-based Laureate Education, Inc., an international provider of higher education, announced the acquisition of a 51% interest in Universidade Anhembi Morumbi, an accredited university with four locations in Brazil's largest city, São Paulo.
The addition of Anhembi Morumbi to the Laureate International Universities network, according to Laureate, further extends the company's leadership in international higher education.
Professor Gabriel Mário Rodrigues, President and Founder of Anhembi Morumbi, stated, "We are proud to select Laureate International Universities as our partner in expanding student access to our institution and bringing an even greater international perspective to our highly-regarded degree programs. With its worldwide network of universities, Laureate brings great cultural diversity and academic opportunities to Universidade Anhembi Morumbi."
"Additionally, Laureate's proven track record of accelerating growth, enhancing financial performance, and reinvesting profits to fuel future growth illustrates how this alliance will create exciting new opportunities for our institution," added Professor Rodrigues.
Founded in 1970 as a school of tourism, Anhembi Morumbi (www.anhembi.br) quickly grew into one of the leading universities in Brazil. Several of Anhembi Morumbi's undergraduate and graduate degree programs are ranked among the best in Brazil by Melhores Universidades, a special higher education edition of Abril publishing house's Guia do Estudante.
Universidade Anhembi Morumbi currently offers degree programs in Business, Advertising, Tourism, Hospitality, Fashion, Law, Engineering, and Veterinary Medicine to over 21,500 students.
Douglas Becker, Chairman and Chief Executive Officer of Laureate Education stated, "As a highly regarded institution of higher learning, Anhembi Morumbi offers its strong academic programs and rich Brazilian culture to our network of universities in Asia, Europe and the Americas. Our partnership with Anhembi Morumbi will lead to significant growth and greater opportunities for thousands of aspiring students in Brazil and throughout the Laureate network."
Total consideration paid for the 51% interest in Anhembi Morumbi is US$ 54 million in cash plus US$ 15 million in seller financing.
Brazil's growing economy and established history of private ownership of universities make it an attractive higher education market. With an estimated 3.9 million post-secondary students, Brazil is one of the largest post-secondary markets in the world. Approximately 70% of Brazil's higher education students attend private universities.
Laureate Education also announced today, the acquisition of a 45% interest in Cyprus College, one of the oldest private colleges in Cyprus. The acquisition further strengthens the company's successful presence in Europe and serves as a bridge to offer degree programs to students in the Eastern Mediterranean region.
Founded in 1961, Cyprus College (www.cycollege.ac.cy) offers 29 undergraduate and graduate degree programs in Business, Computer Science, Engineering and Social Sciences to more than 3,400 students.
Laureate Education now enrolls over 215,000 students through 20 universities with operations in 15 countries. Laureate offers a broad range of career-oriented undergraduate and graduate programs through campus-based universities located in Latin America, Europe, and Asia.
Through online universities, working-adult students are offered undergraduate, master's and doctorate degree programs in major career fields including engineering, education, business, and healthcare.
Laureate Education - www.laureate-inc.com
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