Adtalem (ATGE) Acquires Financial Services Unit of OnCourse
Adtalem Global Education Inc. ATGE announced that it has closed the acquisition of the financial services division of OnCourse Learning, one of the leading providers of compliance training, licensure preparation, continuing education and professional development in the United States.
Meanwhile, OnCourse will continue operations in Brookfield, WI. OnCourse will now be part of Adtalem’s financial services portfolio, which comprises the Association of Certified Anti-Money Laundering Specialists (“ACAMS”), Becker Professional Education and EduPristine.
Notably, the said buyout, which will strengthen the company’s position as a leading workforce solutions provider, complements existing banking and compliance program offerings.
This takeover broadened Adtalem’s reach across the governance, risk and compliance sector, as well as boosted its ability to meet employers’ requirements in the dynamic financial services industry.
Adtalem continues to increase its presence in Asia, U.K. and the greater European market. Moreover, it looks forward to expand footprint in Latin America. Notably, it has been driving overall results on the back of certain strategic initiatives. The company keeps on introducing new degree programs and campuses in order to better serve students. It ensures a balanced focus on investment initiatives to deliver direct returns to its shareholders.
The company, which shares space with Strategic Education, Inc. STRA, American Public Education, Inc. APEI and Universal Technical Institute, Inc. UTI in the Zacks Schools industry, recorded strong enrollment growth in second-quarter fiscal 2019. Its new student enrollment increased 4.9% and total student enrollment grew 2.9% year over year.
However, its adjusted earnings in the fiscal second quarter declined 2.9% from the year-ago period. Restructuring charges related to closing of the Ross University School of Medicine campus in Dominica and real estate consolidations have been denting its performance over the last few quarters.
Nonetheless, the latest acquisition has unlocked expansion opportunities for Adtalem across the global financial services industry.
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