Career Education Corporation (NASDAQ: CECO) today announced that it has
closed on an agreement transferring control of Brooks Institute, one of
its Career College institutions, to gphomestay, a global leader in
providing international education opportunities for students. Terms of
the agreement were not disclosed.
Brooks Institute, located in Ventura, California, with a satellite
campus and public gallery in Santa Barbara, has been providing high
quality visual arts and communications education to students for nearly
70 years. Gphomestay anticipates there will be no change to the name of
the institution, and current students and alumni should expect few to no
changes in their college experience or student services.
In the interest of building global citizens, gphomestay works with a
network of schools around the world to facilitate exchange programs and
other cross-cultural connections for students of all ages. Gphomestay’s
acquisition of Brooks from Career Education Corporation intends to help
gphomestay meet the surge in demand by both domestic and international
students seeking high-quality educational opportunities in creative
fields like photography, filmmaking, graphic design and other media arts.
“We are pleased to have reached a mutually beneficial agreement with a
new owner that intends to invest in strengthening Brooks Institute’s
programs and protecting the long-term interests of its students and
faculty members,” said Ron McCray, Chairman and Interim CEO of Career
Education Corporation. “Gphomestay fulfills those criteria while also
planning to continue to honor the visual arts legacy of Brooks
Institute, creating a brighter pathway for the future of the school.”
This sale is part of Career Education’s strategy to focus its resources
and attention on its universities – Colorado Technical University (CTU)
and American InterContinental University (AIU) – where the company has
significant opportunities to continue to provide quality higher
education to the adult student market.
“No matter the ownership, the faculty and staff of Brooks Institute
remain committed to helping students become professionals who are
well-equipped to tackle the complex and changing demands in the visual,
new media, and communication arts. This change also represents an
outstanding opportunity for us to expand the reach of our institution
nationally and internationally,” said Toni Johnson, Interim President
and Director of Academic Affairs for Brooks Institute.
“Gphomestay values the reputation of Brooks Institute and is dedicated
to ensuring Brooks’ students receive the highest quality educational
experience,” said Christine Lin, Founder and President of gphomestay.
“Our organization has a history of increasing international enrollments
in American private high schools, colleges and universities. We see
strong opportunities to build a more diverse, international student
population at Brooks Institute, while simultaneously collaborating with
Brooks’ esteemed faculty to provide students with the skills needed for
prosperous careers long after graduation. ”
Brooks Institute remains accredited by the Accrediting Council of
Independent Colleges and Schools (ACICS) and is currently in candidacy
with the Western Association of Schools and Colleges (WASC).
About Career Education Corporation
Contacts
Career Education Corporation
Mark Spencer, 847-585-3802
media@careered.com
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