Kaplan Bows Out of Online High Schools
Washington Post Co.’s (WPO) Kaplan Inc. is selling its online high school business to K12 Inc. (LRN), just months after buying another competitor to grow the business itself.
Kaplan Virtual Education, which provides online education for grades six through 12, bought Insight Schools Inc. from Apollo Group Inc. (APOL) in February. It is now selling that brand, as well as the schools branded under Kaplan Virtual Education, to K12.
Terms of the deal, which is expected to be completed within 45 days, weren’t disclosed. Terms of the Apollo deal also weren’t disclosed.
“While our experience in online learning made the Insight Schools an attractive acquisition with long-term potential, we determined that the timing was not right for us to devote intensive energy and resources to this initiative right now,” a Kaplan spokesman said in an emailed statement. “Exiting this business will enable us to focus on our core businesses of higher education and test preparation.”
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