Zovio Announces Approval by WSCUC for University of Arizona Global Campus to Acquire Ashford University
Zovio (Nasdaq: ZVO) announced that the WASC Senior College and University Commission approved the acquisition of Ashford University by the University of Arizona Global Campus, facilitating a shift to a nonprofit structure. This agreement aims to expand access to education for nontraditional students and will be finalized in early December 2020.
Zovio will maintain a long-term role by providing education technology services under a Strategic Services Agreement.
- Nonprofit acquisition expected to enhance educational access for nontraditional and underrepresented students.
- Zovio continues to provide innovative education technology solutions under a long-term agreement.
- None.
CHANDLER, Ariz., Nov. 16, 2020 /PRNewswire/ -- Zovio (Nasdaq: ZVO) announced today that WASC Senior College and University Commission (WSCUC) approved Ashford University's application for a change of control and legal status. Under the transformational educational agreement approved today, the independent nonprofit Arizona corporation, The University of Arizona Global Campus ("Global Campus"), will acquire the assets of Ashford University from Zovio.
The transaction, which is expected to be completed in early December, will allow Global Campus to fulfill its vision to expand access for nontraditional and underrepresented students to flexible, affordable, high-quality higher education opportunities that will allow students to achieve their academic and career goals. Zovio will continue providing innovative and data-driven education technology services to the University of Arizona Global Campus under a long-term Strategic Services Agreement.
"The landmark approval by WSCUC allowing the University of Arizona Global Campus to complete the acquisition ensures that nontraditional students have access to a high-quality education that meets their needs, and completes Zovio's transformation into a world-class education technology services company," said Zovio Founder, President, and CEO Andrew Clark. "Since we announced in 2019 our intent to redefine the future of education by providing online, data-driven education services that meet learners' and universities' needs, Zovio has been strategically focused on building a network of technology-enabled products and services, supported by Signalz for Student Success, providing higher education institutions with machine learning and AI-powered insights for decision making that promotes student retention and degree completion."
"This new university creates significant opportunities for the 35,000 existing students and working adults who want to pursue advanced degrees through online education," said University of Arizona President Dr. Robert C. Robbins. "These nontraditional students don't usually have the time or finances to attend a university in a campus setting. We are committed to providing a quality education that is accessible to these hard-working students who are pursuing education to better life for themselves and for their families."
About Zovio
Zovio (Nasdaq: ZVO) is an education technology services company that partners with higher education institutions and employers to deliver innovative, personalized solutions to help learners and leaders achieve their aspirations. The Zovio network, which includes Fullstack Academy, TutorMe, and Learn@Forbes, leverages its core strengths and applies its technology and capabilities to priority market needs. Using advanced data and analytics, Zovio identifies the most meaningful ways to enhance the learner experience and deliver strong outcomes for higher education institutions, employers, and learners. Zovio's purpose is to help everyone be in a class of their own. For more information, visit www.zovio.com.
About The University of Arizona Global Campus
The University of Arizona Global Campus is an independent nonprofit Arizona corporation that will provide access to affordable high-quality higher education with flexible opportunities for students from diverse backgrounds seeking to achieve their educational and life goals. Global Campus will build on Ashford University's promise of high-quality online learning, access and inclusivity and the University of Arizona's mission as a land-grant institution focused on student success. For more information, visit https://globalcampus.arizona.edu.
Contact: Alanna Vitucci
alanna.vitucci@zovio.com
858 668 2586 x11636
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SOURCE Zovio
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