14th December 2010
SAE Group (SAE) is pleased to announce that Navitas Limited (Navitas), the largest Australian Stock Exchange listed provider of education services, has successfully entered into an agreement to acquire 100% of SAE Institute and Qantm College.
Navitas is an
Australian diversified global education provider offering pre-university
and university programs for students with operations in Australia, the
United Kingdom, Canada, Asia and Africa.
SAE will operate as a standalone division within the expanded Navitas Group maintaining continuity of its brand and courses while benefiting from Navitas's systems, resources and expertise.
"The acquisition by Navitas represents the next phase in SAE's ongoing growth. We expect the partnership to deliver new and exciting education opportunities for both the students and management" said Tom Misner, President of SAE Institute.
To ensure continuity of SAE's highly successful business model and culture all key management have agreed to stay with SAE including Tom Misner, who has been appointed President of Global Operations.
Both companies are confident that the cultures of SAE and Navitas are highly aligned which will ensure a smooth transition.
Rod Jones, Navitas Chief Executive Officer said, "Over three decades SAE has built a global reputation as a high quality provider of creative and new media education and, as a leader in its field, SAE is well positioned to take advantage of the increasing global demand for skills based training in these areas."
"Navitas and SAE share a
commitment to quality educational outcomes for students and are both
equally focused on strong organic growth within their respective fields.
SAE will continue to be driven by itsexisting management team and will
maintain its pioneering approach and culture."
KPMG Corporate Finance acted as financial advisors and Rodd Peters International Lawyers acted as legal advisers on the divestment.