LANHAM, MD. and NEW YORK, May 22, 2019 / PRNewswire / – 2U, Inc. (Nasdaq: TWOU), a global leader in educational technology, today completed the previously announced acquisition of Trilogy Education Services, Inc., a workforce accelerator that prepares adult learners to high-growth careers in the digital economy. The closing of the transaction brings together two of the world’s largest education companies and positions Trilogy as a brand of 2U, Inc ..
“Technology is transforming and redefining the future of work globally. More and more people, at later stages of their lives, are investing in themselves and in their future, upgrading and re-qualifying to keep pace and stay competitive in the job market ”, Christopher, Co-Founder and CEO of 2U. “Chip” said Paucek. “With our growing portfolio of 68 outstanding university partners, 2U is well positioned to provide the skills sought for working adults, whether through a degree, professional certificate, boot camp. or a short course. “
“Trilogy was created to help communities around the world better prepare for the changing workforce. Our rapid growth is testament to the winning collaborations between professionals, academia and employers,” said the founder and CEO of Trilogy. Dan Sommer mentionned. “With 2U, our combined reach and impact will better serve more students in more places throughout their lifetimes. We uniquely solve an otherwise unmet need in our global economy. “
The combined company will expand the offerings of 2U across the career curriculum continuum and accelerate the company’s planned path to $ 1 billion in revenue within one year from 2022 to 2021. The strategic advantages of the acquisition include:
- Increase the 2U university portfolio from 36 to 68 partners, including the University of Western Australia and the University of Connecticut, which launched Trilogy-based training camps last month.
- Add relevant, technical and competency-based products and programs to 2U’s portfolio, complementing and complementing existing online degree and short course offerings.
- Provide 2U with in-house expertise in the management and operation of in-person training camps.
- Extend the existing presence of 2U in Mexico and Europe and establish 2U’s presence in the Australian and Canadian markets.
- Create a more robust corporate channel to compete in the $ 366 billion lifelong learning and in-company training market.
2U and Trilogy have a proven track record of helping the world’s best universities grow and fulfill their missions in the digital age. Together, the companies have reached over 150,000 adult learners, and 2U will now have more than 250 unique educational offerings in its portfolio.
About 2U, Inc. (Nasdaq: TWOU)
Eliminating the bottom ranks of higher education is not just a metaphor, it’s our mission. For more than a decade, 2U, Inc., a global leader in educational technology, has been a trusted partner and brand steward of leading universities. We create, deliver and support over 250 digital and in-person educational offerings, including graduate degrees, professional certificates, trilogy-based boot camps, and GetSmarter short courses. Together with our partners, 2U has positively transformed the lives of over 150,000 students and lifelong learners. To learn more, visit 2U.com. #NoBackRow
Forward-Looking Statements Regarding Warning Language
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995 relating to the Company, Trilogy, mergers and other matters. In some cases, you can identify forward-looking statements by the words “could”, “could”, “will”, “could”, “should”, “should”, “expect”, “the intention”, “The” goal “,” anticipate “,” believe “,” estimate “,” predict “,” project “,”, continue in statements about the future. Examples of forward-looking statements include, but are not limited to, statements we make regarding mergers, future results of operations and the financial condition of the Company, including financial objectives, business strategy and plans and objectives for future operations. , are forward-looking statements. The Company has based these forward-looking statements in large part on its estimates of its financial results and its current expectations and projections regarding future events and financial trends that it believes could affect its financial condition, results of operations and strategy. commercial, short and long term. future business operations and objectives; and financial requirements as of the date of this press release. We assume no obligation to update these statements as a result of new information or future events. These forward-looking statements are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from expected results, including merger risks, including integration risks and failure to realize the expected benefits of mergers. , higher education market trends and the online education market, and growth expectations in these markets; the acceptance, adoption, and growth of online learning by colleges and universities, faculty, students, employers, accrediting bodies, and state and federal licensing bodies; our ability to comply with changing regulations and legal obligations relating to data privacy, data protection and information security; our expectations regarding the potential benefits of our cloud-based software as a service, or SaaS, technology and technology services for university clients and students; our reliance on third parties to provide certain services or technological components used in our platform; our ability to meet scheduled launch dates for our graduate programs and short courses; our expectations regarding the predictability, visibility and recurring nature of our business model; our ability to acquire new university clients and to expand our graduate programs and short courses with existing university clients; our ability to successfully integrate the operations of Get Educated International Proprietary Limited, or GetSmarter, to obtain the expected benefits of the acquisition and to manage, develop and develop the combined business; our ability to execute our growth strategy in alternative international, undergraduate and non-degree markets; our ability to continue to acquire potential students for our graduate programs and short courses; our ability to influence or increase student retention in our graduate programs; our ability to attract, hire and retain qualified employees; our expectations regarding the scalability of our cloud-based platform; our expectations regarding future expenses relative to future revenues; potential changes in regulations applicable to us or our university clients; and our expectations regarding the length of time that our cash balances and other available financial resources will be sufficient to fund our operations. These potential risks and uncertainties, as well as others that could cause actual results to differ from expected results, are further detailed under the heading “Risk Factors” in our Annual Report on Form 10-K for the closed year. December 31, 2018 and other reports filed with the Securities and Exchange Commission. In addition, the Company operates in a highly competitive and rapidly changing environment. New risks appear from time to time. It is not possible for the management of the Company to predict all risks, nor can the Company assess the impact of all factors on its business or the extent to which a factor, or a combination of factors , may cause actual results to differ materially from those contained in any forward-looking statements that the Company may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances described in this press release may not occur and actual results could differ materially and adversely from those anticipated.
Molly forman, 2U, Inc.
SOURCE 2U, Inc.