iCollege Ltd. (AU:NXD) has released an update.
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NextEd Group Limited has secured the exclusive rights to re-enrol 1,800 students from International House after the latter entered external administration. This move is expected to boost NextEd’s revenue by $6.0 – $7.0 million and enhance campus utilization, consolidating its position in the English language and vocational training sectors. The acquisition, funded by existing cash reserves, will see students transition to NextEd campuses, with operations set to be earnings accretive from the second half of FY25.
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