TANCO family-led STI Education Systems Holdings Inc. has acquired full control of affiliate educational institution iAcademy, which offers college and senior high school courses.
A 100 percent stake in iAcademy was bought from STI Holdings’ subsidiary STI Education Services Group Inc. for P113.5 million, STI Holdings disclosed to the Philippine Stock Exchange on Tuesday.
STI, the holding company within the Tanco group that drives investment in the education business, said it would focus on expanding the operations of iAcademy to “target specialized information technology fields in multimedia arts and animation as well as the offer of transnational education.”
The company paid the full amount of the purchase price on Sept. 27, the disclosure said.