, Europe鈥檚 largest higher education group, has acquired .听听
搁别驳别苍迟鈥檚聽 joined Galileo鈥檚 network of 42 institutions over 80 campuses across 13 countries around the world in September this year鈥� including the Paris School of Business, Strate School of Design and Atelier de S猫vres in France.聽
鈥淔or Galileo, being in the UK market is clearly of importance鈥�
Executives at both 搁别驳别苍迟鈥檚 and Galileo told 小瓢虫传媒 that the takeover has come in part as a result of the Covid-19 pandemic and that the new partnership will provide 搁别驳别苍迟鈥檚 with investment and support to accelerate its development.聽
While the acquisition is set to provide long-term investment for the university, sources have told 小瓢虫传媒 that as part of a restructuring program some 83 staff members will lose their jobs. 搁别驳别苍迟鈥檚 says that this restructuring of the university does not have anything to do with the acquisition.聽
鈥�For Galileo, being in the UK market is clearly of importance. This is something we’ve been looking for, for a number of years and didn’t find the right opportunity. UK universities in the world of higher education, are great brands that can be exported,鈥� said Galileo鈥檚 CEO Northern Europe & Group Development, Bruno Mourgue d鈥橝lgue.
鈥淲e decided to acquire 搁别驳别苍迟鈥檚 because it had several features that are very close to what we’re doing. First, there’s a combination of business management and courses for creative industries and this has been a hallmark of Galileo鈥檚 strategy from the start.聽
鈥淪econdly, we found a great leader in Geoff Smith and the team around him. So that was really important for us to drive, the university going forward,鈥� he said.
Mourgue d鈥橝lgue said that Galileo will help 搁别驳别苍迟鈥檚 team to accelerate growth by adding new courses, new content and developing pathways with other universities.聽
鈥淭he situation of Covid-19 created the opportunity that may not have been there otherwise,鈥� he added.聽
搁别驳别苍迟鈥檚 student body comprises 81% international students from 140 countries, making it 鈥渙ne of the very most internationally diverse universities in the UK鈥�, according to vice-chancellor & CEO of 搁别驳别苍迟鈥檚, Geoff Smith.
Smith acknowledged the part that Covid-19 has played in the acquisition, but stressed the real opportunity for 搁别驳别苍迟鈥檚 will be around long-term investment.
鈥淭he acquisition by Galileo is really about the long-term. Of course it gives reassurance in the short-term but it is really about the long-term sustainability of 搁别驳别苍迟鈥檚 University London.聽
鈥淕alileo, their primary investors and shareholders are very much long-term themselves. They鈥檝e never sold a school yet,鈥� he said.聽
鈥淭hey are an educational player themselves, so that long-term horizon very much chimed with our own need to secure the long-term sustainability of 搁别驳别苍迟鈥檚. So, yes the acquisition has happened in the time of a pandemic, but it is really about long-term growth and sustainability,鈥� Smith added.聽
While Smith stressed that the acquisition will benefit the university, some have expressed concern around changes at the institution.聽
A source who did not want to be named told 小瓢虫传媒 that 83聽of some聽464 total聽posts are to be lost in a complete restructure of all professional services at the institution.聽
When 小瓢虫传媒 asked 搁别驳别苍迟鈥檚 to confirm this number, a university spokesperson said that听鈥�like many within the higher education sector, Regent’s has suffered financially as a result of the pandemic鈥�.聽
鈥�Accordingly, the university has proposed some changes to our operational structure. These remain just proposals at this time,鈥� the spokesperson added.聽
鈥淸The restructure] is accelerated by the difficult circumstances that we all find ourselves in鈥�
Smith explained that there were plans to restructure 搁别驳别苍迟鈥檚 academic and professional services before the pandemic as part of an initiative called The People Project.聽
鈥淲e are still very much going on with that project. Covid-19 has to some degree accelerated it, but actually that change agenda was already in train.聽
鈥淪o it is certainly not as a result of the Galileo acquisition. But it is accelerated by the difficult circumstances that we all find ourselves in,鈥� Smith said.聽
Galileo鈥檚 Mourgue d鈥橝lgue said that it will continue to monitor the UK market for schools that could be added to the group鈥檚 portfolio.聽
鈥淲e’re always looking and we are acquisitive by nature. Galileo has been built from the ground up. The way we function is that we serve and help the institutions that serve the students and we help them accelerate their growth and deliver more for their students,鈥� he said.聽
“This is what it’s all about. And we will continue to look for good brands that can benefit from being part of the group and that can be strengthened by the network effect as well,鈥� he added.听听
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