Touro sells online division for $190M
By SARAH ROHRS/Times-Herald staff writer
Article Launched: 11/02/2007 08:53:23 AM PDT
Touro University's development plans for Mare Island's north end got a major shot in the arm Thursday when the sale of the college's online division was finalized.
A private equity firm, Summit Partners announced Thursday it brought Touro University International for $190 million, officials said.
Proceeds from the sale go to Touro College, the umbrella over the Vallejo Touro University, and the online division which serves about 8,000 students world-wide, primarily serving in the military.
Just how much of the $190 million proceeds will go to Touro's plans for Mare Island's north end isn't yet known. Dick Hassel, Touro University vice president of administration, said funds will likely pay for infrastructure costs associated with a new cancer treatment and research center.
"This is a brick in the road to building the north end," Hassel said
Touro is working with Siemen's Medical Solution to build a combined particle therapy center as part of the school's ambitious $1.2 billion plans for a 191-acre parcel on Mare Island's north end. The City Council will likely consider the plans later this year or in early 2008.
The sale of the online school will not impact Vallejo's Touro students, Hassel said.
In the wake of the sale, the new university has been renamed TUI University, and will be operating as an independent entity.
Marge Louderback, TUI University senior assistant to the president, said students taking online classes will not see any changes, and administration, faculty and staff members will remain the same.
TUI University offers programs leading to bachelor's, master's, and doctoral degrees in business administration, health sciences, education, and information systems.
TUI University is accredited by the Accrediting Commission for Senior Colleges and Universities of the Western Association of Schools and Colleges, one of the seven regional bodies that accredit most independent and public colleges and universities.
Summit Partners has offices in Boston, Palo Alto, and London. Founded in 1984, the firm has raised nearly $9 billion in capital in its private equity, venture capital, and subordinated debt funds, according to a firm announcement about the sale.
Solano's Got It!
Blog Archive
-
▼
2007
(799)
-
▼
November
(62)
- Bay Area Regional Forecast Conferences held in Oak...
- Livermore lab and UC Davis get $8.5M grant for rap...
- Solano EDC Praises Conservation
- UC Davis' Burn Center Will Oversee National Research
- Touro Facility Will Employ Particle Beam
- Complying The 'Word' For Success
- Businesses Get Tips To Go Green Today
- Map Sheds Light On Vision For Rural Land
- Bay Area To Get $840M For Cargo Improvement
- Coast Is Clear For Wal-Mart In Fairfield
- A compromise can help fix the congestion in Northe...
- Jobless rate stable in East Bay
- Lagoon: Round 2
- UC Davis Energy center has big plans for the world
- Touro Offers Housing Help
- Dozens Of Area Teachers Recipients Of Mini Grants
- Planners OK a new retail and restaurant center for...
- Funds hike could help relocate I-80/680 truck scales
- Suisun City manager pursues passion for screenwriting
- Breakfast Event Set
- More commuters taking Capitol Corridor trains
- Solano Farmers want more bang for buck & Diversity...
- Travis Air Force Base to privatize housing
- Touro sells online division for $190M funds will l...
- Vacaville's Nut Tree site's offerings continue to ...
- Fairfield's overall economic activity apears to be...
- Office building, tower likely at Alamo Plaza
- Vacaville Planning Commissioners endorsed a plan t...
- Waiting for a bus in downtown Vallejo could get sa...
- As businesses grow, so does revenue -- Vacaville r...
- Vallejo schools could end year with $7M extra - a ...
- Demand for larger apartments increase rent in Fair...
- Nut Tree developer, city of Vacaville retool agree...
- Planners OK Center For Dixon
- Funds Hike Could Help Truck Scales
- With Pest Gone, Grape Growers Rejoice
- Broadband To Bring More Jobs To Solano
- Fairfield balances on the edge as housing prices p...
- Benicians Meet To Find Slogan For City
- An Efficient Solano
- Iowa A Step Closer To Vallejo Berth
- City Staff Steers To County's Annual Transportatio...
- Farm Innovation: Walnut Waste Into Energy
- Travis AFB plans major housing redevelopment
- UC Berkeley, BP Finally Sign Contract For Research...
- Sutter Surgical Center Gets High Marks
- Free Meals For A Year Mark Opening Of Mexican Rest...
- Others Interested In Building Vacaville Hotel
- AMPORTS signs agreement with Toyota Logistics Serv...
- Mare Island Developer Marketing Town Center
- Sutter To Offer Advanced Cancer Treatment
- Brewery Honored
- As Businesses Grow, So Does Revenue
- Breakfast Scheduled
- Touro University California to build the nation's ...
- New Dealership Slated For Fairfield Auto Mall
- Sponsors Sought
- Trans Bay Steel Moving To Fairfield
- Solano Looks To Attract, Retain Firms
- Tasty Developments
- Olive Garden Returning To North Solano
- Mare Island developer marketing Town Center
-
▼
November
(62)