Laureate Education Acquires Brazil’s FMU For $412 Million

Career College Central summary:

  • Laureate Education Inc. has agreed to acquire Brazilian university chain FMU for one billion Brazilian reais ($412 million), as the education sector in Brazil is expanding amid a rise in income.
  • The educational group confirmed the deal in a joint statement on Friday, but it didn't unveil the value of the acquisition, which was confirmed by an executive involved in the negotiation, who declined to be named.
  • FMU has 90,000 students and annual revenue of BRL450 million.
  • Laureate has a total of 780,000 students across 29 countries throughout North America, Latin America, Europe, Asia, North Africa and the Middle East, according to its website. Laureate has been in Brazil since 2005, when it acquired control of Anhembi Morumbi.
  • The rapidly growing educational services market in Brazil is attracting the interest of investors, including international players.
  • The Brazilian market for private educational services has grown rapidly over the past decade because of economic expansion and upward social mobility. Earlier this year, Kroton Educacional SA and Anhanguera Educacional Participacoes SA agreed to merge, creating the nation's largest private-education company.

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THE WALL STREET JOURNAL

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