INDIA BUSINESS WORLD - NOVEMBER 16th - NOVEMBER 30th
- 2007
MANIPAL ARM BUYS 50% IN U21 GLOBAL
Bangalore-based Manipal Education's international arm, Manipal Universal Learning International (Muli), has acquired 50% stake in global online graduate school U21Global, an international network of 20 leading universities across 12 countries, for an undisclosed sum.
Apart from financing the acquisition, Manipal has also invested an additional $5 million in U21 Global. Muli has bought out Cengage's (formerly Thomson Learning) stake in the graduate online school, which is backed by University of Nottingham, National University of Singapore, University of Melbourne among others. "Through this tie-up, Manipal will have access to a huge market like China," said Manipal Universal Learning CEO and MD Anand Sudarshan.
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