Apollo Group Inc. Acquiring Digital Ad Company, Aptimus for $48 Million
Apollo Group (NASDAQ:APOL) is planning to acquire Aptimus (NASDAQ:APTM) today. The amount is for $48 million. It will be an all-cash deal (equivalent to $6.25 per share). Apollo also controls the operations for the University of Phoenix.
“This acquisition is another step to strategically position the company to best monitor, manage and control our marketing investments and brand,” stated Brian Mueller, the President of Apollo Group. “Integrating Aptimus’ technology and very experienced team into our current marketing initiatives and service center model will take us to the next level in managing student inquiries and achieving further process and cost efficiencies in new-student enrollments.”
The acquisition should be fully completed by early fiscal 2008. The current operations will not change. Apollo will continue to work with AOL and Advertising.com and Aptimus will maintain their client relations as well.
“This is a significant opportunity to deliver our business vision to one of the most important education companies in the market, improving their ability to reach new students,” stated Rob Wrubel, CEO of Aptimus.@amitchowdhry or on Google+ at +AmitChowdhry