ZVO - Zovio divests OPM business

• Zovio ( NASDAQ: ZVO ) shares gained ~13% pre-market on Monday after the edu-tech services company announced a deal to divest its online program management (OPM) business to the University of Arizona Global Campus (UAGC).
• Under an asset purchase agreement executed on July 31, 2022, UAGC acquired Zovio's ( ZVO ) operations and assets that previously provided it services through a long-term strategic services deal.
• The agreement follows Zovio's ( ZVO ) sale of TutorMe for $55M in May 2022 and is part of its strategic alternatives process, which included the potential divestiture of all three of its businesses.
• The firm will continue to support the continued growth and expansion of Fullstack Academy and simultaneously explore strategic alternatives for that business.

For further details see: