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Kaplan takes stake in Vietnam school
http://washington.bizjournals.com/washington/stories/2009/01/05/daily50....
The Washington Post Co., relying less on its faltering publishing business and more on its profitable education division, has acquired a stake in a Vietnamese English language school.
Its Kaplan, Inc. division paid an undisclosed sum for a stake in BrightStar, which teaches English and helps students prepare for international studies and overseas placement for student and teach exchange programs. BrightStar operates six campuses throughout Vietnam and has about 70 full-time employees, Kaplan said in a statement.
It is the latest in a string of acquisitions for Kaplan and the second announced this week. On Tuesday, Kaplan said it acquired West of England Language Services, Ltd., a group of English language schools in the U.S., U.K. and Australia.
Acquisitions have helped Kaplan grow annual sales to more than $2 billion, now accounting for more than half of The Post’s (NYSE: WPO) revenue.