The University of Arizona purchases the assets of Ashford University to enter into the Edtech space
The University of Arizona announced that it is acquiring the assets of Ashford University, a for-profit college, to create a non-profit online learning platform called the University of Arizona Global Campus.
UA is purchasing Ashford for $1 from Zovio which is an educational technology company based in Chandler. The transaction will be completed later this year after regulatory approvals are granted. Zovio will continue to provide education technology services to the Global Campus upon agreement.
Ashford University serves 35,000 students across the country. The acquisition will help UA enter into the online Edtech market by helping them who aren’t traditional freshmen. The addition of the 35,000 students into UA’s online learning space will heighten the university’s clutch in the Edtech sector.
The agreement with Zovio will ensure that the Global Campus will receive services like recruiting, financial aid, counseling, institutional support, information technology, and academic support services.
Brent White, UA’s Vice Provost for Global Affairs stated that since most of the university’s students are adult learners and come from outside the premises, the Global Campus will serve to represent those underrepresented students pursuing higher education.
“With today’s announcement, UA President Robbins has demonstrated he is thinking big… The agreement also instantly makes the university a significant player in online higher education, and has the potential to create a stable and much-needed additional revenue stream to support Arizona resident student education and university operations,” said Larry Penley, the chairman of the Arizona Board of Regents that oversees the University of Arizona.