The university has approximately 40 campuses and confers degrees in over 100 degree programs at the associate, bachelor's, master's and doctoral levels. The University of Phoenix is one of the largest higher education providers in North America. The University of Phoenix is a wholly owned subsidiary of the Apollo Education Group. Schools and subsidiaries University of Phoenix Miller is Apollo Education Group's chairman. The delisting was completed on February 1, 2017. The offer amounted to $10 per share, compared to its high of $89/share in 2009. On May 6, 2016, the shareholders of the company approved the sale of the firm for $1.14 billion to a group of private investors: Najafi Companies, a Phoenix firm, the New York-based Apollo Global Management and, the Vistria Group of Chicago. Murphy argued that Apollo Group "lost its direction when it abandoned its roots, which were serving working adults, not recent high school graduates." Asset under Apollo Global Management (2016–present) The company attributed this to a decline in enrollment, with degreed enrollment declining from 380,000 in 2011, to 328,000 in 2012, to 269,000 in 2013. The operating income during this period fell from $956 million in 2011, to $676 million in 2012, to $427 million in 2013. Revenue of the company continued to fall: in the fiscal year ending on August 31, 2011, the net revenue was $4.7 billion in 2012, $4.2 billion in 2013, $3.6 billion. Apollo isn't hungry for cash: It carries little debt but generates $4 billion in revenue and has $650 million in net income and $1.5 billion in cash on its balance sheet", commented Peter Wahlstrom of Morningstar, an investment-research company. "In our view, it does not change the view of the company. The deal with Cole Real Estate Investments included a 20-year lease requiring Apollo to remain in the complex. In March 2011 the Apollo Group sold its corporate headquarters in Arizona and leased it back in order to raise $170 million in cash. Apollo Group's quarterly revenue was down 7.6% on a year-over-year basis. The company reported $1.45 in earnings per share for the previous quarter, exceeding the Thomson Reuters estimate of $1.33 by $0.12. The Apollo Group announced quarterly results on 30 June 2011. Apollo also purchased schools in Mexico and Chile Īs of 5 October 2011, Apollo Group had a market capitalization of $5.36 billion and a price-to-earnings ratio of 13.22. In 2008, Apollo Group formed a joint venture with Carlyle Group, called Apollo Global, to make international acquisitions. Apollo Group as a Publicly Traded Corporation (1994–2016) Ĭorporate revenues for the year ending Augwere $2.251 billion. was founded in 1973 by John Sperling and John D. 3.6 Western International University (closed, 2019)Īpollo Education Group, Inc.3.4 College of Financial Planning (sold 2017).2.2.3 Faculdade Educacional da Lapa (FAEL).2.2.2 Universidad Latinoamericana, Mexico.2.2 Apollo Global (later known as Vanta Education).1.3 Asset under Apollo Global Management (2016–present).1.2 Apollo Group as a Publicly Traded Corporation (1994–2016).On February 1, 2017, Apollo Education Group Inc announced the completion of its acquisition by a consortium of investors including The Vistria Group, LLC and funds affiliated with Apollo Global Management, LLC. On May 8, 2016, the company announced its sale to a group of private investors for $1.14 billion, effectively going private.
The company owns and operates several higher-learning institutions, including the University of Phoenix, BPP Holdings in the United Kingdom, University for the Arts, Sciences, and Communication in Santiago, Chile, and Universidad Latinoamericana in Mexico. is an American corporation based in the South Phoenix area of Phoenix, Arizona, with an additional corporate office in Chicago, Illinois. University for the Arts, Sciences, and CommunicationĪpollo Education Group, Inc.
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