DeVry To Buy Damásio Educacional

(RTTNews) - DeVry Brasil, a part of DeVry Education Group Inc (DV), on Tuesday agreed to buy Damásio Educacional. DeVry expects Damásio to be modestly accretive to earnings per share in fiscal 2015 and increasing thereafter.

Completion of the transaction is expected to occur February 2015, subject to all regulatory approvals.

According to DeVry, Damásio is a leader in bar exam test preparation and a high quality provider of undergraduate and graduate law programs.

Damásio has a 44-year history in Brazil and serves more than 50,000 students through a network of approximately 220 learning centers located in many major cities and through distance learning.

Damásio is expected to generate approximately $50 million in revenue in calendar year 2014.