News: Navitas to buy SAE Group for $289M

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Navitas Ltd (ASX:NVT) says it has inked a deal to buy new media education services provider SAE Group for $289 million.

The education services provider says the acquisition will expand its global education offering.

The purchase will be funded through new debt facilities, an equity placement and issuance of shares to the vendor.

Navitas says SAE Group is one of the world's largest media technology training institutes with has 47 campuses in 19 countries.

In 2010 SAE Group is expected to deliver revenue of $109 million and EBITDA of $33 million.

Navitas boosted its net profit to $62.8 million in the year to 30 June 2010.