Zovio Announces Historic Higher Education Transaction

Zovio (Nasdaq: ZVO) announced today that the sale of Ashford University to University of Arizona Global Campus (“Global Campus”) is now complete. Following approval from WSCUC in November, the University of Arizona announced the inaugural board of directors for Global Campus.

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Due to COVID-19, the pivot to digital learning in higher education has accelerated. College students are increasingly turning to online learning options, while more institutions than ever are offering their programs on-campus and online. Global Campus, facilitated by Zovio technology, will pioneer the future of higher education by meeting students wherever they are in their educational journey and wherever they live.

With the transaction’s close, Global Campus is moving forward with ensuring that nontraditional and underrepresented students can access affordable and high-quality online higher education.

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This transaction allows Zovio to continue providing innovative and data-driven education technology services to Global Campus under a long-term Strategic Services Agreement, cementing Zovio’s position as a world-class education technology services company. It furthers Zovio’s ability to pursue diversified growth as a leading provider of technology and services to other higher education institutions, corporations, and learners.

“Zovio is proud to partner with University of Arizona Global Campus to provide our data-driven technology services to meet the needs of each student, particularly nontraditional students who need flexible access to a high-quality online education that will help them achieve their goals,” said Zovio Founder, President, and CEO Andrew Clark. “Today’s news is further proof that it will be innovative models for education like this which will redefine the future of learning. By providing online education services that meet both the learners’ and universities’ needs, Zovio technology is fueling better decision making, insights, and solutions that promote student retention and degree completion.”

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