LANHAM, Md. and CAPE TOWN, South Africa, July 3, 2017 /PRNewswire/ -- 2U, Inc.
(NASDAQ: TWOU), a leader in delivering best-in-class digital
education in partnership with the world's top colleges and
universities, today announced that it has completed its previously
announced acquisition of GetSmarter (incorporated as Get Educated
International Proprietary Limited), a leader in collaborating with
universities to offer premium online short courses to working
professionals.
GetSmarter, based in Cape Town, South
Africa, powers engaging online short courses in partnership
with some of the world's most renowned higher education
institutions, including the University of
Cambridge; the London School of
Economics; Harvard University's
strategic online learning initiative, HarvardX; the University of Chicago; Massachusetts Institute of Technology (MIT); and Africa's
top three universities: University of Cape Town, University of the Witwatersrand and
University of Stellenbosch Business School.
"We are pleased to wrap up our acquisition of GetSmarter," said
Christopher "Chip" Paucek, CEO and co-founder of 2U. "The
acquisition of GetSmarter is expected to accelerate our growth,
extend our global footprint and provide a broader suite of services
by matching more students to the right digital education
opportunities – whether graduate programs or short course
certificates. With this acquisition, we expect to expand our total
addressable market while strengthening our position as a global
leader in delivering high-quality, high-touch, digital education
focused on student outcomes. We welcome the GetSmarter employees to
the 2U team."
"We are proud and delighted to be joining the 2U family,"
Sam Paddock, CEO and co-founder of
GetSmarter. "We now have an even stronger base from which to fully
realize our potential in a global market and serve our
stakeholders."
About 2U, Inc. (NASDAQ: TWOU)
2U partners with great colleges and universities to build what
we believe is the world's best digital education. Our platform
provides a comprehensive fusion of technology, services and data
architecture to transform high-quality and rigorous campus-based
universities into the best digital versions of themselves. 2U's No
Back Row® approach allows qualified students and working
professionals around the world to experience a first-rate
university education and successful outcomes. To learn more, visit
2U.com.
About GetSmarter
GetSmarter is an online education company based in Cape Town and London. We collaborate with the world's
legendary Universities to offer premium online short courses to
working professionals around the world. To learn more, visit
GetSmarter.com.
Cautionary Language Concerning Forward-Looking
Statements
This press release contains forward-looking statements
regarding our future business expectations, which are subject to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. All statements other than statements of
historical facts contained in this press release, including
statements regarding the expected benefits of the transaction, the
future results of the operations and the financial position of 2U
are forward-looking statements. 2U has based these forward-looking
statements largely on its estimates of its financial results and
its current expectations and projections about future events and
financial trends that it believes may affect its financial
condition, results of operations, business strategy, short-term and
long-term business operations and objectives, and financial needs
as of the date of this press release. We undertake 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 the results predicted. These and
other potential risks and uncertainties that could cause actual
results to differ from the results predicted are more fully
detailed under the heading "Risk Factors" in our Annual Report on
Form 10-K for the year ended December 31,
2016, Quarterly Report on Form 10-Q for the quarter ended
March 31, 2017 and other reports
filed with the U.S. Securities and Exchange Commission. In
addition, there are significant risks and uncertainties relating to
2U's acquisition and ownership of GetSmarter, including risks and
uncertainties relating to the integration of GetSmarter's
operations and the realization of anticipated benefits from the
acquisition. Moreover, 2U operates in a very competitive and
rapidly changing environment. New risks emerge from time to time.
It is not possible for 2U management to predict all risks, nor can
2U assess the impact of all factors on its business or the extent
to which any factor, or combination of factors, may cause actual
results to differ materially from those contained in any
forward-looking statements 2U may make. In light of these risks,
uncertainties and assumptions, the forward-looking events and
circumstances discussed in this press release may not occur and
actual results could differ materially and adversely from those
anticipated.
Media Contacts:
Shirley Chow, 2U
schow@2U.com
Martin Hall, GetSmarter
martin.hall@getsmarter.com
Investor Contact:
Ed Goodwin, 2U
egoodwin@2U.com
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SOURCE 2U, Inc.