Apollo Global, a subsidiary of Apollo Education Group, Inc. (NASDAQ: APOL), one of the world’s largest private education providers, acquired Career Partner GmbH, a Munich, Germany-based provider of human resource development and private higher education.
Apollo Global has acquired all of the outstanding shares in the company for approximately €96m (approximately $105m as of the transaction date), plus a contingent cash payment of up to €11m (approximately $12m) based on Career Partner’s operating results for calendar year 2016.
The deal will allow Apollo to expand global learning network into Germany.
Led by Chief Executive Officer Sven Schuett, Career Partner Group offers academic state-approved study programs, certified trainings, and innovative continuous education programs for experts and managers of all industries. As a one of the largest e-learning providers in Germany, the company offers a multitude of courses, distance learning modules, company-specific solutions, and services in the field of digital learning.