Apollo Global Buys Majority Stake in Australian Online College

OPEN COLLEGES: Apollo Education Group announced that its subsidiary, Apollo Global, has acquired a majority interest--70 percent--in Open Colleges, an Australian online learning company, for $98.5 million. Apollo Global, which also operates the University of Phoenix, also has the right to purchase the remaining 30 percent. Open Colleges traces its roots to the mail correspondence days in the 1800s, and currently offers over 130 online courses for a range of professions and industry-related skills.

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