Silicon Valley-Based Company To Acquire DeVry University

SAN JOSE, CA -- The parent company of the for-profit college DeVry University announced Tuesday it will transfer ownership of the school to Silicon Valley-based company Cogswell Education. Parent company Adtalem Global Education said Cogswell will also inherit Keller Graduate School of Management.

The agreement is subject to certain terms and conditions to be met during the transition process, including regulatory and accreditor approval, and the transaction is anticipated to be completed in 2018, according to a company press release.

“I am thrilled for DeVry University and its students as it enters this new phase in its history,” said Lisa Wardell, president and CEO of Adtalem. “Cogswell Education is the right partner to fuel DeVry’s mission and commitment to its students, ensuring high-quality programs that help students achieve their career goals.”

The agreement includes an earn-out for Adtalem, which is based on DeVry University’s future performance over a multi-year period.

“We will work closely with Cogswell Education over the coming months to finalize the transfer of ownership and ensure a smooth transition for DeVry University, its colleagues and students,” Wardell said. “Adtalem will now have more ability to focus on its remaining institutions across our three key verticals: medical and healthcare, technology and business, and professional education."

Cogswell Education is the owner of Cogswell College, the second oldest operating college in California, and a regionally accredited institution offering bachelor’s degrees as well as certificate programs.

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