University Of Arizona Acquires Online University For $1

TUCSON, AZ — The University of Arizona has acquired Ashford University, an online university with approximately 35,000 enrolled students, to expand its digital reach as virtual schooling becomes increasingly important in the coronavirus pandemic. The deal will last for 15 years with an initial term of seven years, as reported by Inside Higher Ed.

Zovio, Ashford’s parent company, announced the acquisition in a statement Monday and said that it will continue to provide its educational technology services to the newly-formed University of Arizona Global Campus. The new global campus will have its own faculty, leadership and accreditation under the partnership.

“With over 16 years of industry experience, we understand the changing dynamics of higher education as well as the challenges students and educators now face as the COVID-19 pandemic further alters the learning landscape," Andrew Clark, founder, president and CEO of Zovio, said in a statement. "That is why we're excited to partner with University of Arizona in support of their vision to expand access and provide innovative learning solutions to help the University of Arizona meet students where they are."

The land-grant university acquired Ashford for $1 and will share a portion of the tuition profits with Zovio in return. The acquisition will also allow U of A to provide more access and flexibility to underrepresented and nontraditional students across the globe. The move will not interrupt any degree programs in progress.

“By establishing The University of Arizona Global Campus, the University of Arizona will greatly expand its reach and live up to its responsibility as a land-grant university to provide access to quality education, including to working adults, full-time parents, military service members, and other underrepresented students," said U of A president Dr. Robert Robbins.