On Thursday April 24, 2009 Daniel Webster College, a nationally recognized private college best know for its aviation program, announced that it has agreed to sell to ITT Educational Services.
ITT in a press release made a statement indicating the sale is definitive but subject to accrediting commission and governmental approvals and customary closing conditions. ITT also reported its first quarter profits rose 45 percent due to a substantial increase in student enrolments and better retention of current students. The company’s results were in part due to lowered advertising expenses and the increase of student financial aid from both government and private sources. ITT did not specify the terms of the purchase but did indicate the sale is expected to close in July.
Daniel Webster College is regionally accredited by the Commission on Institutions of Higher Education of the New England Association of Schools and Colleges, and currently serves approximately 1,200 students on its 52-acre campus in Nashua, NH and at an additional location in Portsmouth, NH. The college offers professional and technology-based programs of study at the associate, baccalaureate and master degree levels both in residence and through distance education.
ITT Educational Services, Inc. is a leading private college system focused on technology-oriented programs of study. It operates over 100 ITT Technical Institutes in more than 30 states which predominantly provide career-focused, degree programs to approximately 61,000 students. Headquartered in Carmel, Indiana, it has been actively involved in the higher education community in the United States since 1969.