Stadio Holdings buys Prestige Academy
The acquisition entrenches its position in South Africa's private tertiary education industry.
Private tertiary education specialist Stadio Holdings has acquired Prestige Academy Proprietary for an undisclosed sum, the company announced on Wednesday.
Stadio, which is listed on the JSE, said it will acquire 100 percent of the issued share capital of Prestige Academy.
Prestige Academy is a registered private higher education provider with 27 registered qualifications offered at its campus in Bellville, Cape Town, and four registered qualifications offered at its campus in Centurion, Pretoria.
Stadio Holdings is bulking up on acquisitions, taking advantage of the demand for quality private higher education in South Africa.
“The acquisition is aligned with Stadio’s intention to acquire and grow existing registered higher education brands, fund further expansions of existing brands and oversee the greenfield development of new faculties, programmes and campuses across all institutions,” the company said in a statement.
A successful acquisition of Prestige Academy would see Stadio own six registered higher education institutions all providing programmes, both undergraduate (including bachelors degrees, higher certificates and diplomas) and postgraduate (including honours and masters degrees).
These programmes “provide graduates with a real chance of creating employment opportunities (entrepreneurship) or finding employment.”
Stadio’s tertiary offering is centred on a “multiversity” concept, which offers both contact and distance learning. “It is the Stadio group’s vision to be a leading multiversity, offering qualifications aligned with the needs of societies, students and the world of work,” the company said.
Stadio has a long-term stated objective of enrolling 100,000 students, which it believes can be reached by enrolling more distance learning students at its campuses. The company forecasted the number of students is expected to reach 56,000 by 2026. By the end of August 2018, the number of its students reached 29,000.
“In time Stadio will look to consolidate the programmes offered by its various higher education institutions that will allow all stakeholders to benefit from the marketing, operational and regulatory advantages of doing so.”