17/06/2014 - 10:45

SAE to buy California college

17/06/2014 - 10:45

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SAE Institute Group, a subsidiary of Perth-based education services provider Navitas, has entered into an agreement to acquire 100 per cent of California-based creative media school Ex’pression College for US$13 million.

SAE to buy California college
Navitas chief executive officer Rod Jones.

SAE Institute Group, a subsidiary of Perth-based education services provider Navitas, has entered into an agreement to acquire 100 per cent of California-based creative media school Ex’pression College for US$13 million.

The acquisition supports SAE’s planned growth in the key United States market and potentially expedites accreditation of further higher education programs in both California and other states.

SAE currently offers audio technology diplomas in California.

Ex’pression College offers bachelor degree programs across two campuses in Emeryville and San Jose, California, and are aligned with SAE’s existing global portfolio including animation, game development, audio engineering, graphic design and digital filmmaking. 

Both campuses are in the San Francisco Bay area and the San Jose campus is located in the heart of Silicon Valley, which is associated with many technology and media related companies. 

Ex’pression College has about 550 full time equivalent students and has access to Title IV funding.

“This acquisition will provide SAE with a significantly expanded footprint in the key California market and help facilitate the ongoing accreditation process to increase the number of SAE courses and qualifications in that state, as well as across the United States,” Group CEO of Navitas Rod Jones said.

“Australia is one of SAE’s largest markets but California has more post-secondary students and a higher GDP than Australia, therefore presenting some very interesting growth opportunities.”

The acquisition will be funded out of existing undrawn funding facilities.

Navitas’ share price rose by 0.14 per cent to $7.16 at 10:40am WST. 

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