Apollo Group, Inc. Announces Acquisition of Insight Schools
PHOENIX–(BUSINESS WIRE)–Jan. 10, 2007–Apollo Group, Inc. (Nasdaq:APOL) announced that it has acquired Insight Schools, an innovator in online high school education.
Insight Schools, based in Portland, Oregon, is led by a management team with significant experience in the area of K-12 online education. The company was founded by Mr. Keith Oelrich, whose prior experience includes positions as President and CEO of KC Distance Learning (KCDL) and Apex Learning. Mr. Oelrich and his team are remaining with the company under the new ownership. Apollo acquired Insight Schools in October of 2006.
The Chronicle: Apollo Group Enters a New Market, Buying a Company That Provides Online High-School Education
The Apollo Group Inc., which owns the University of Phoenix, announced on Wednesday that it had bought a company that provides online high-school education.
The acquisition of Insight Schools marks Apollo’s first foray into the secondary-education market. The terms of the deal, which was completed in October, were not disclosed.
“Online learning in the K-12 arena is gaining momentum across the country,” Brian Mueller, president of Apollo, said in a written statement. “We view this as an opportunity to extend into a new business by bringing in a seasoned management team, so that we can maintain our focus on our important initiatives at the University of Phoenix.”
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