FINSIA sells off education business
(24 April 2007 – Australia) The Financial Services Institute of Australia (FINSIA) is selling its education business to Kaplan for A$36 million.
Kaplan is a global provider of tertiary education and professional qualifications.
FINSIA president Michael Shepherd said the board embarked on a strategic review of the body’s present and future role last year and concluded that funding of accreditation and the development and marketing of new courses would be better applied to matters of policy and public interest.
"To take FINSIA Education to its next stage of development, with greater certainty and speed than FINSIA’s resources would allow, the resources of an organisation such as Kaplan are needed to provide the necessary international experience, capabilities and substantial global IP and content," Shepherd said.
FINSIA’s focus will be on becoming more member centric and devoting resources to professional development, course accreditation, as well as policy research and advocacy.
"Providing all conditions for the sale are met, the FINSIA Board is recommending to its members that they accept Kaplan’s proposal to acquire FINSIA’s education business," Mr Shepherd said.
FINSIA president Michael Shepherd said the board embarked on a strategic review of the body’s present and future role last year and concluded that funding of accreditation and the development and marketing of new courses would be better applied to matters of policy and public interest.
"To take FINSIA Education to its next stage of development, with greater certainty and speed than FINSIA’s resources would allow, the resources of an organisation such as Kaplan are needed to provide the necessary international experience, capabilities and substantial global IP and content," Shepherd said.
FINSIA’s focus will be on becoming more member centric and devoting resources to professional development, course accreditation, as well as policy research and advocacy.
"Providing all conditions for the sale are met, the FINSIA Board is recommending to its members that they accept Kaplan’s proposal to acquire FINSIA’s education business," Mr Shepherd said.
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