Zovio | August 02, 2022
An education technology services company that partners with higher education institutions and employers, announced today that it has closed on an agreement to transition its online program management (OPM) business to the University of Arizona Global Campus (UAGC).
Over the past six months, Zovio has taken steps to implement a process designed to unlock shareholder value by rightsizing the company, accelerating growth of subsidiaries and exploring strategic alternatives, which included the potential divestiture of all three of its businesses.
In May 2022, Zovio completed the sale of TutorMe, for $55 million and used a portion of the proceeds to repay bridge financing. This left the company debt free and allowed Zovio to satisfy obligations stemming from a decision of the Superior Court of California while the company appeals the decision.
Continuing to execute on its strategic alternatives process, Zovio and UAGC negotiated, signed and closed on an asset purchase agreement with an effective date of July 31, 2022, after receiving approval from their respective Boards of Directors. Under the asset purchase agreement, UAGC is acquiring Zovio's operations and assets that previously provided services to UAGC through a long-term Strategic Services Agreement.
"Zovio has been at the forefront of providing innovative online learning products and services for almost two decades, We are pleased to have reached this agreement with UAGC and are excited about their future,"
- Zovio Chief Executive Officer, Randy Hendricks.
Zovio will continue to support the continued growth and expansion of Fullstack Academy and simultaneously explore strategic alternatives for that business.
Zovio (Nasdaq: ZVO) is an education technology services company that partners with higher education institutions and employers to deliver innovative, personalized solutions to help learners and leaders achieve their aspirations. The Zovio network, including Fullstack Academy, leverages its core strengths to solve priority market needs through education technology services. Using proprietary advanced data analytics, Zovio identifies the most meaningful ways to enhance the learner experience and deliver strong outcomes for higher education institutions, employers, and learners. Zovio's purpose is to help everyone be in a class of their own. For more information, visit www.zovio.com.
Juniper Networks | August 10, 2022
Juniper Networks, a leader in secure, AI-driven networks, today announced that Online Education Services (OES), an online education enabler, has selected Juniper’s wired and wireless solutions to power its networking experience. With a secure AI-driven network, OES is set to advance the online education industry through its digitally enabled solutions alongside its partner universities.
OES was established in 2011 with the goal of delivering innovative education experiences that attract, engage and retain students. Through partnerships with highly regarded Australian education providers, OES provides the expertise to create engaging online learning experiences for students who are not catered for by traditional campus-based offerings. Through proven successful and long-standing partnerships, OES has supported universities to grow at scale and speed while maintaining the highest academic quality.
To sustain its continued business growth, OES relocated to a larger office building and required a high-performing network to support increasing demands and growing number of staff. In addressing this, Juniper’s Wireless Access Points with Juniper Mist Wi-Fi Assurance were deployed to provide access to high-speed and reliable connectivity powered by automation. Coupled with Mist AI, the overall management and operation of OES’s network was greatly simplified, while enabling AI-driven insights into its users’ experiences. The ease of implementation also allowed for continued agility, a critical factor for OES as it looks to expand its business locally and internationally.
“We are pleased to have been selected by OES to support their advancement in the online education industry. Through our AI-driven solutions, we have built a simplified and automated network that is agile enough to scale with OES’s growing business. We are confident that OES will reap the benefits of a seamless high-speed wireless connectivity as it continues to grow its business in accelerating the digital learning experiences for students around the world.”
- Bruce Bennie, Vice President & General Manager, Australia & New Zealand at Juniper Networks
With Juniper’s experience-first approach to networking, we have a secure and automated network that can be managed from a centralized location, allowing for greater efficiency across our IT operations. Through its AI-driven solutions, we are confident that Juniper will be able to continue to help us grow and scale our business with agility as we work toward further accelerating the online education industry, Said David Payne, IT Operations Manager, Online Education Services (OES), Australia.
About Juniper Networks
Juniper Networks is dedicated to dramatically simplifying network operations and driving superior experiences for end users. Our solutions deliver industry-leading insight, automation, security, and AI to drive real business results. We believe that powering connections will bring us closer together while empowering us all to solve the world’s greatest challenges of well-being, sustainability, and equality.
STRIDE | August 19, 2022
Enrollment is now open for the 2022-2023 school year, welcoming students across California to a new, private, faith-based education option: FaithPrep California, which will use the comprehensive learning platform from Stride, Inc. to provide a world-class online education experience. The full-time K-12 school program, authorized by The Rock Academy, will offer families a faith-based online learning education that focuses on core character building through instruction by Christian teachers.
A recent study conducted by Stride, Inc. found that a majority of Christian parents (66%) are concerned about the quality of education their children are receiving, and nearly half of Christian parents (43%) say public education does not reflect their personal values. “We help students pursue academic excellence, develop Christian character, and discover their gifts, talents, and purpose to follow God’s calling in life,” said Chuck Wolfe, founder and CEO at Faith Academics. “We will provide your child a best-in-class online school experience by combining a dynamic curriculum with a faith-based approach.” FaithPrep California students will access a full course load across the core subjects of math, science, English/language arts, and social sciences, as well as career-oriented pathways and options to earn college credit. Students will connect with teachers during live instructional sessions and work with their peers in small-group activities, all-class assignments, hands-on projects, and more. And the online school will offer the opportunity to meet in person at Faith Centers across the state for socialization, faith activities, and general program support.
“Stride is proud to partner with a faith-based online school program for families in California,“We believe that in using Stride’s world-class curriculum, in addition to the Christian character-building components, we will build a brighter future for students and families.”
Perry Daniel, senior director of academics and partnership at Stride
Stride, Inc. has delivered online education to more than two million K-12 learners over the last two decades and has worked with schools and districts across all 50 states to help develop local solutions to meet personalized online and blended learning goals. FaithPrep California is part of the FaithPrep network of schools and programs supported by Faith Academics—a social purpose education company dedicated to providing online faith-based learning solutions and advancing technology-based education in developing countries such as Malawi, Africa.
About FaithPrep California
FaithPrep California is a full-time online learning program. sponsored by the Rock Academy, for students statewide in grades K-12 and will serve students starting in the fall of this year. FaithPrep California is a religious online private school and gives families the choice to access the curriculum provided by Stride