In May 2017 Purdue University, the traditional US public research university with 40,000+ on-campus students, announced its intention to acquire the wholly online, for-profit school Kaplan University, also with its own 40,000+ students.
Purdue spent a nominal fee of $1 to complete the acquisition. In return, Kaplan received a 30-year, contractual commitment to the new institution to provide online program management services including technology support, financial aid administration, help-desk services, and marketing. If the new institution is stable and profitable, Kaplan will receive 12.5% of annual revenue.
This move further blurs the boundary between for-profit education providers and non-profit universities in the US. It helps to cement the value of online learning, and will make Purdue one of the largest public providers of online learning.
For more information on this interesting development read the Eduventures Wake-Up Call: https://www.eduventures.com/2017/05/seismography-101-understanding-shockwaves-purdue-kaplan-deal/