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Corinthian to Buy Computer Training Academy

September 13, 2000|Bloomberg News

Corinthian Colleges Inc., which operates private colleges, said it will buy the assets of Computer Training Academy Inc., including two campuses in the San Jose area, for an undisclosed price. Santa Ana-based Corinthian plans to complete the purchase in its second quarter of fiscal 2001, pending approval by state regulators. Closely held Computer Training Academy, which had about 500 students Aug. 31, awards certificates and diplomas in information technology programs, telecommunications technician training and computerized business administration. The company last week agreed to buy four Los Angeles-area campuses from closely held Educorp Inc. for an undisclosed price. After purchasing Computer Training and Educorp, Corinthian will operate 51 colleges in 18 states, including nine in Florida, 16 in California and four in Georgia. Its shares rose $4.38, or 10%, to close at $47.25 on Nasdaq.

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