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|Apollo Group, Inc. Announces Acquisition of Insight Schools|
PHOENIX--(BUSINESS WIRE)--Jan. 10, 2007--Apollo Group, Inc. (Nasdaq:APOL) announced that it has acquired Insight Schools, an innovator in online high school education.
Insight Schools, based in Portland, Oregon, is led by a management team with significant experience in the area of K-12 online education. The company was founded by Mr. Keith Oelrich, whose prior experience includes positions as President and CEO of KC Distance Learning (KCDL) and Apex Learning. Mr. Oelrich and his team are remaining with the company under the new ownership. Apollo acquired Insight Schools in October of 2006.
"The management team at Insight is exceptional and they are similarly attuned to issues of academic quality, retention and service," said Brian Mueller, President of Apollo Group. "We view this as an opportunity to extend into a new business by bringing in a seasoned management team, so that we can maintain our focus on our important initiatives at University of Phoenix."
Insight partners with local communities and school districts to build and operate their schools. Insight Schools launched their first school, Insight Schools of Washington, in September 2006, with over 600 full-time students. Insight School of Washington is a statewide, online public alternative high school; as a public school, the program is tuition-free to students resident in Washington. All teachers at Insight Schools are certified teachers, experienced in the subject areas they teach, and mentors are also assigned to work with each student to ensure that they are remaining active and engaged in their schoolwork.
Students in grades 9-12 can attend and are able to select from six academic tracks, such as Advanced Placement (AP), College Prep, Foundations, or English as a Second Language (ESL). Students attend classes via the Internet. Additionally, community-building activities--both face-to-face and online--are organized by the school. Like University of Phoenix, Insight Schools markets directly to families, as opposed to providing content and services to school districts.
"Online learning in the K-12 arena is gaining momentum across the country," said Mueller. "We think this is an opportunity for us to leverage our existing resources, management expertise, and national presence to tap into an exciting and important new market."
Apollo Group, Inc. has been providing higher education programs to working adults for almost 30 years. Apollo Group, Inc. operates through its subsidiaries: The University of Phoenix, Inc.; Institute for Professional Development; The College for Financial Planning Institutes Corporation; and Western International University, Inc. The consolidated enrollment in its educational programs makes it the largest private institution of higher education in the United States. It offers educational programs and services at 100 campuses and 159 learning centers in 39 states, Puerto Rico, Washington DC, Alberta, British Columbia, Netherlands, and Mexico.
For more information about Apollo Group, Inc. and its subsidiaries, call (800) 990-APOL or visit Apollo on the company website at: www.apollogrp.edu.
CONTACT: Apollo Group, Inc., Phoenix