Earlier this evening, Laureate Education, Inc. (NASDAQ: LAUR) announced it had entered into an agreement with Strategic Education, Inc. (NASDAQ: STRA) for the sale of its Australian and New Zealand operations, Torrens University Australia and Think Education in Australia and Media Design School in New Zealand.
Torrens University Australia President and Think Education CEO Linda Brown said, “On a daily basis, Torrens University Australia, Think Education and the Media Design School demonstrate that private investment in education can deliver significant public good. This could not have been achieved without the support and investment Laureate Education provided to create the first new university in Australia in over twenty years, which now educates our more than 19,000 students.”
“We are excited to be joining Strategic Education, Inc. – a US-based, publicly listed education provider dedicated to enabling economic mobility through education and at the forefront of technology-driven hybrid education. Torrens University Australia, Think Education and Media Design School will become part of a network that values the power of education and will allow us to maintain our innovative and global approach. We look forward to continuing to innovate locally and globally, to meet the future needs of our students and partners.”
Torrens University Australia Chancellor Michael Mann said the announcement has the full support of the Australian governing boards of Torrens University Australia and Think Education.
“Laureate Education’s legacy within our organisation and Australia is immense. Laureate trusted our team to establish Australia’s first new comprehensive university in 20 years, and we have achieved that. Since 2014, Torrens University Australia has successfully focused on employable graduates, established significant industry partnership, and maintained focused research.
“We could not have achieved all of this without the support and guidance of the Australian Government, the South Australian Government, and the higher education regulators, who have trusted us while keeping us accountable throughout this journey. We now look forward to the next chapter alongside Strategic Education, Inc., and continuing to wholeheartedly support our students and staff as the institutions continue to grow through innovation.”
Torrens University President Linda Brown concluded that, “It will be business as usual for students of each institution throughout the process. There will be no disruption to students’ course of study.”