Purdue University to Acquire Kaplan University — from wsj.com by Douglas Belkin and Melissa Korn
Purdue President Mitch Daniels calls deal major push into online education

Excerpt:

Purdue University, a flagship public institution in Indiana, is jumping into online education by buying for-profit Kaplan University with the aim of creating a new, public online university.

 

Also see:

Purdue Buys For-Profit Kaplan University for $1 to Create New Kind of Public University — from edsurge.com by Jeffrey R. Young
Excerpt:

It’s kind of a head-spinner. Purdue University agreed today to buy one of the largest for-profit universities, Kaplan University, and turn it into a public, non-profit university in the Purdue system. Except that this new public university will apparently operate without state funding (though financial aid will be available to students).

The sale price for Kaplan University’s 15 campuses was $1, though with one important catch: The new nonprofit university operated by Purdue promised to give a percentage of its revenue back to its former owner, Kaplan, Inc., for the next 30 years.

 

 

Addendum on 5/3/17: