Baltimore, Maryland, July 16, 2008 - Laureate Education, Inc. announced today that it has acquired NewSchool of Architecture and Design, based in San Diego, California, and has finalized its acquisition of Kendall College, based in Chicago, Illinois. These institutions strategically complement the Laureate International Universities Network. They also are the Network's first U.S. campus-based institutions.
NewSchool of Architecture and Design, founded in 1980, is fully accredited by the National Architecture Accrediting Board and the Accrediting Council for Independent Colleges and Schools. The school, with more than 440 students, offers both a Bachelors and a Masters degree in architecture.
Kendall College, with approximately 1,500 students, is one of the leading culinary and hospitality institutions in the U.S. Founded in 1934, Kendall also offers degrees in business and early childhood education. Kendall is accredited by The Higher Learning Commission of the North Central Association of Colleges and Schools, and the associates degrees within its culinary school are accredited by the American Culinary Federation. Laureate announced a broad partnership with Kendall in 2004. Laureate provided financial assistance to support construction of Kendall's new state-of-the-art campus in downtown Chicago and received an option to acquire the institution.
"Each of these institutions is in a very specific niche that fits very well within the Laureate International Universities Network," said Paula Singer, President and CEO of the Laureate Higher Education Group, which oversees the company's online and US-based institutions. "NewSchool of Architecture and Design, with its highly regarded architecture program, compliments our global network of higher education institutions. Kendall College and its top ranked culinary school solidify the Network's reputation as a global leader in hospitality education."
"This is an exciting and very important event for all our students," said Dr. Nivine Megahed, Kendall College President. "Kendall students now have greater access to the global educational and professional resources of Laureate Education," said Dr. Megahed.
"We are excited and optimistic about our future as part of the Laureate Network," said Dr. Steven Altman, President of NewSchool of Architecture and Design. "We look forward to further advances in the quality of education we provide and to continuing our mission of preparing architects for entry into the profession," he added.
About Laureate Education, Inc.
Laureate Education, Inc. is a global network of more than 37 accredited campus-based and online universities offering undergraduate and graduate degree programs to more than 405,000 students around the world. Laureate students are part of an international, multicultural, networked academic community that spans 18 countries and more than 90 campuses throughout North America, Latin America, Europe and Asia. Laureate's international universities offer more than 130 career-focused, multi-year undergraduate, masters and doctorate degree programs in career fields including engineering, education, business, healthcare, hospitality, information technology, and architecture. For more information, visit www.laureate-inc.com.