By PSW Staff • December 17, 2010 Australian global education services provider Navitas has announced that it has entered into an agreement to acquire 100% of SAE Group (SAE), a leading global provider of creative and new media education. Founded in Australia in 1976, SAE has expanded to become one of the world’s largest media technology training institutes, with 47 campuses in 19 countries. In Australia SAE has operations in Queensland, New South Wales, Victoria, South Australia and Western Australia as well as an established presence in Germany, the US and UK and operations in South Africa, Dubai, Singapore, New Zealand and much of Europe. SAE offers a range of post secondary education opportunities to approximately 8,000 students, including certificate, diploma, degree and Masters programs across three major fields of study; audio production, film production and interactive media. SAE is expected to deliver revenue of $109 million and EBITDA of $33 million in the 2010 calendar year. Navitas is acquiring SAE for A$289 million with the deal expected to add a high demand and complementary new range of educational options to Navitas’ current offering. The acquisition will also expand Navitas’ geographic footprint and increase its ratio of domestic students compared to international students. The combined Navitas and SAE business will have over 50,000 students enrolled across 97 campuses around the world and will provide a platform for further expansion into key international markets Rod Jones, Navitas Chief Executive Officer said. “Over three decades SAE has built a global reputation as a high quality provider of creative and new media education and, as a leader in its field, SAE is well positioned to take advantage of the increasing global demand for skills based training in these areas,” said Rod Jones. “Navitas and SAE share a commitment to quality educational outcomes for students and are both equally focused on strong organic growth within their respective fields.” “SAE will continue to be driven by its existing management team and will maintain its pioneering approach and culture.” “With its focus on domestic students, SAE provides Navitas with diversification of our student profile and earnings base as well as providing us with an opportunity to leverage our international student recruitment expertise to grow SAE.” “Education and skills training is a business we excel in and we are confident that we can add value to SAE within the Navitas Group.” said Rod Jones. The acquisition is still subject to certain conditions including approvals from regulatory bodies in key geographies. Subject to the successful satisfaction of these conditions it is expected that the acquisition will be finalized by 31 January 2011. The acquisition will be funded by new debt facilities and a fully underwritten institutional equity placement. In addition, Navitas will offer a Share Purchase Plan to eligible shareholders at the same price as the institutional placement. SAE Website Navitas Website Comments Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website Tagged with: Audio Education Engineer Live Mixing Poll Recording Sound Reinforcement · all topics Subscribe to Live Sound International Subscribe to Live Sound International magazine. Stay up-to-date, get the latest pro audio news, products and resources each month with Live Sound.