GUS Buys Out Laureate Education India Biz

Global University Systems (GUS) buys out Laureate Education India business -- worth Rs 2,500 crore -- including Pearl Academy of fashion, design and media and UPES, which offers courses across engineering, business and law disciplines.

According to a source, Laureate was not been able to draw out the economic benefits of its business in India due to the complex business structure.

GUS is an international network of higher education institutions with its presence in Europe, UK, Canada and South Asia, known to provide high standards of student experience and training across various fields.

Commenting on the milestone, Aaron Etingen, Chief Executive Officer of Global University Systems said, “GUS collaborates with internationally-minded, innovative and forward-thinking educational institutes and we are elated about this alliance with UPES and Pearl Academy. There are synergies between the institutions and we look forward to working with them in creating opportunities and developing platforms for enhanced learning and teaching experiences that are truly global in nature”.

Pearl Academy and UPES are managed by not-for-profit education societies. The societies collect fees from the enrolled students of institutes, but cannot share the profit generated because of their not-for-profit status. UPES is run by Hydrocarbons Education & Research Society and Pearl Academy by Delhi-based Creative Arts Education Society.

The institutes, Pearl Academy and UPES, have collaborated academically with GUS offering students access to an increased set of international opportunities and global exposure by signing a Memorandum of Understanding for education, training and research cooperation.

Talking about the collaboration, Dr Deependra Kumar Jha, Vice Chancellor, UPES, said, “UPES has always been committed to provide its students a competitive advantage through unique learning approaches and strategic academic partnerships at both national and international level. UPES also believes that students’ exposure to the global center stage is the key to brighter prospects which will transform them into employable and agile professionals”.

“We are confident that this collaboration with GUS will go a long way in opening a myriad of learning and teaching avenues for our students and faculty members who are actively seeking global diversity”, he added.

Pearl Academy offers a diverse range of under-graduate, post-graduate and professional development programs through its campuses in Delhi, Noida, Jaipur, and Mumbai. Nandita Abraham, President, Pearl Academy said, “At Pearl, we understand the importance of global exposure and experience in today’s world and hence have partnered with some of the most prominent universities and institutes across the world. We look forward to this collaboration with GUS, and are confident that this partnership will enrich our students’ learning experiences and equip them further to take up global challenges”.

The Baltimore-based education giant, Laureate Education, has spent more than a decade trying to secure a postion in India. The largest for-profit higher education company successfully entered the country in 2011 by purchasing economic interests in Pearl group entities and thereafter in entities that derive revenues from UPES.