*** NEWSFLASH *** Tribeca sold to Washington Post *** NEWSFLASH ***
Listed financial services education provider Tribeca has been sold to United States-based education provider and business trade publisher Kaplan.
Kaplan, which last year pulled in revenue of over US$1 billion, is a wholly-owned subsidiary of The Washington Post newspaper.
The New York-based company provides education services across a range of disciplines including health care, business, education, financial planning and information technology.
Profits for Tribeca tumbled in 2005 from last year’s $1.4 million profit to a reported loss of over $3 million. This came despite a 41 per cent increase in sales revenue to $24.8 million, and a 51 per cent increase in operating earnings to $3.8 million compared with the previous year.
Shares in Tribeca are currently trading at 29 cents.
Recommended for you
Multiple industry organisations have shared their thoughts on AFCA’s proposed rules amendment, supporting the idea of firms being named publicly when they fail to comply with determinations.
Channel Capital has appointed a head of investment oversight who joins from 14 years at asset consulting firm JANA Investment Advisers.
Licensee Centrepoint Alliance has completed the acquisition of Brighter Super’s annual review service advice book, via Financial Advice Matters.
ASIC has launched court proceedings against the responsible entity of three managed investment schemes with around 600 retail investors.
