Adtalem Global Education Signs Agreement To Transfer Ownership of DeVry University

05:37 12/04/2017

Adtalem Global Education ATGE , a leading global education provider, announced that it has signed an agreement to transfer ownership of DeVry University and its Keller Graduate School of Management to Cogswell Education LLC, a company that has significant experience in higher education.

The agreement is subject to certain terms and conditions to be met during the transition process, including regulatory and accreditor approval, and the transaction is anticipated to be completed in 2018.

“I am thrilled for DeVry University and its students as it enters this new phase in its history,” said Lisa Wardell, president and CEO of Adtalem. “Cogswell Education is the right partner to fuel DeVry’s mission and commitment to its students, ensuring high-quality programs that help students achieve their career goals.”

Cogswell Education will assume full ownership of DeVry University, and, while no consideration will be paid to Adtalem at closing, the agreement includes an earn-out for Adtalem, which is based on DeVry University’s future performance over a multi-year period. Adtalem has also committed to delivering DeVry with a minimum working capital balance, further supporting DeVry’s future success.

“We will work closely with Cogswell Education over the coming months to finalize the transfer of ownership and ensure a smooth transition for DeVry University, its colleagues and students,” said Wardell. “Adtalem will now have more ability to focus on its remaining institutions across our three key verticals: medical and healthcare, technology and business, and professional education. Adtalem will always be grateful to DeVry University for our legacy in technology education and leadership in serving the educational needs of new majority students.”

James Bartholomew, president, DeVry University, added, “I am pleased that we have identified the best new owner for DeVry University, aligned to our purpose and values. Together, we can continue to serve and empower our students to change their lives.”

In addition, The Association of Certified Anti-Money Laundering Specialists (ACAMS), a member of Adtalem Global Education ATGE , announced two strategic initiatives to support anti-financial crime professionals in Germany.

As part of its continued European expansion and ongoing commitment to developing ACAMS’ member services throughout the region, ACAMS’ globally recognized certified anti-money laundering specialist (CAMS) accreditation program has been translated into German and will be launched at Frankfurt School Verlag’s Risiko Geldwäsche 2017 conference on November 29, 2017. CAMS® is widely regarded as a leader in the area of anti-money laundering certifications and recognized internationally by financial institutions, governments and regulators.

“We are delighted to enter into partnership with such a prestigious business school as Frankfurt School Verlag and to include them in ACAMS’ network of international training partners,” said Angela Salter, ACAMS’ head of Europe. “We look forward to working closely with Frankfurt School to strengthen professionals’ international anti-money laundering expertise through CAMS® in German.”

“AML and financial crimes are global issues, and providing a globally recognized qualification, alongside local regulatory education, is very important to ACAMS,” added Salter. “We continue to invest in growing services for ACAMS members throughout Europe and know that organizations want their AML/CTF/CDD and sanctions professionals to have a guaranteed level of competence evidenced by a robust global qualification. The German-speaking, anti-financial crime community is a very important market for ACAMS and this widens the global appeal of CAMS®. ACAMS is proud to offer CAMS in a total of 11 languages.”

This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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