Adtalem Global Education has announced it will acquire Walden University, a for-profit online university, for $1.48B from Laureate Education. Walden University is a for-profit online university.
While an online university may offer an attractive opportunity due to the impacts of Coronavirus, the for-profit university industry has been struggling as of late. Enrollment has been falling for several years and has now dropped more than 50% from its highs.
The deal is pending approval from the U.S. Department of Education and is expected to close during 2021.