National Teachers College, APEC to merge
The National Teachers College (NTC) is set to absorb Affordable Private Education Center Schools (APEC) via a merger deal which is seen to result in the creation of an “education powerhouse” catering to students in senior high school and tertiary education.
Listed firm iPeople Inc., which owns both institutions, said in a disclosure on Monday that the majority of the schools’ board of directors and stockholders approved the planned merger of NTC and APEC. NTC will be the surviving entity.
The deal, which will combine over 24,000 students in K-12, college and graduate school, is still subject to filing of relevant applications and regulatory approvals.
“The planned merger will allow us to better achieve our goal of transforming lives through innovative education at affordable prices,” NTC and APEC chair Fred Ayala said.
“Our high school students will benefit from the combination of NTC’s national reputation and 94 year track record of excellence in teaching, with APEC’s progressive teaching methods and focus on being educators of the digital future,” he added.
NTC, founded in 1928, is a higher education institution offering collegiate programs such as teacher education, accountancy, business, hospitality and tourism management, information technology, library science and psychology.
Established in 2013, APEC Schools is a chain of private stand-alone high schools in the country. It has 17 campuses across the National Capital Region, Rizal, Cavite and Batangas.
“We will gain a lot from APEC’s modern approach, including its specialization in highly engaging blended learning,” NTC executive vice president Pam Wu said.
APEC Schools CEO Joie Lopez said the “planned merger will be a big plus for our students who will now have a clear pathway to college with one of the leading higher education institutions in the University Belt.”
iPeople, a listed holding company under House of Investments (HI) and Ayala Corp. (AC), has 60,000 students in seven schools, including Mapua University. HI and AC hold 51 percent and 33.5-percent stake in iPeople.
