Conglomerate Ayala Corp. is increasing its stake in listed education firm iPeople Inc. by acquiring shares worth P351 million from A. Soriano Corp.
The Ayala Group teams up with the Department of Education and Khan Academy to roll out 21st Century digital learning. .
As a result, iPeople acquired three operating subsidiaries: National Teachers College, University of Nueva Caceres and Affordable Private Education Center Inc., which is doing business under the name of APEC Schools. iPeople also owns and operates Mapúa University, Malayan Colleges Laguna, Malayan Colleges Mindanao and the Malayan High School of Science.
“DepEd is proud and grateful to stand shoulder to shoulder with these education partners. We can solve perennial challenges in education by drawing from the expertise of partners like Ayala Group and the cutting-edge vision of enterprises of the future like Khan Academy,” said Department of Education Secretary Juan Edgardo Angara.
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