Strayer Education, Inc. today announced that it has agreed to acquire the Jack Welch Management Institute (JWMI), an online leadership education program that offers a differentiated executive MBA degree and executive certificates.
With the acquisition of JWMI, Strayer University will further its commitment of providing a high-quality online educational experience by offering students and corporations the opportunity to learn real-world business lessons from Jack Welch, the highly regarded former Chairman and CEO of General Electric.
"We are delighted to offer JWMI programs at Strayer University," said Robert S. Silberman, Chairman and CEO of Strayer Education. "With this acquisition, we will offer students an executive MBA program that combines a first-rate business education with the highest level of academic quality and rigor. Jack's experience and success in the business world serves as a solid foundation for the executive MBA program and will expand our corporate training offerings."
Mr. Welch, a lifelong educator, built the GE Management Institute into one of the country's premiere corporate universities. Following his retirement from GE, Mr. Welch continued teaching business at MIT's Sloan School of Management and in numerous other academic settings. In 2000, he was named "Manager of the Century" by Fortune Magazine.
"Our vision has always been to build JWMI into the number one online business school in the world," said Mr. Welch. "Combining with Strayer University gives the Institute the educational foundation, the reach, and resources to achieve this vision."
JWMI was founded by Mr. Welch and launched in 2009 as part of Chancellor University. Strayer Education entered into a definitive agreement with Chancellor University and S & J Welch, LLC to acquire the assets associated with JWMI at Chancellor University. The transaction is expected to close before the end of 2011 subject to regulatory approvals.
About Strayer Education, Inc.
Strayer Education, Inc. /quotes/zigman/60576/quotes/nls/stra STRA +1.36% is an education services holding company that owns Strayer University and certain other assets. Strayer's mission is to make higher education achievable for working adults in today's economy. Strayer University is a proprietary institution of higher learning that offers undergraduate and graduate degree programs in business administration, accounting, information technology, education, health services administration, public administration, and criminal justice to working adult students at 92 campuses in 22 states and Washington, D.C. and worldwide via the Internet. Strayer University is committed to providing an education that prepares working adult students for advancement in their careers and professional lives. Founded in 1892, Strayer University is accredited by the Middle States Commission on Higher Education.
For more information on Strayer Education, Inc. visit www.strayereducation.com , for Strayer University visit www.strayer.edu , and for JWMI, please visit www.jwmi.com .