University of Arizona acquires Ashford University

Former for-profit Ashford University, which enrolls 35,000 students, will become the new, nonprofit University of Arizona Global Campus.

The University of Arizona Global Campus will acquire Ashford for $1 but will share 19.5 percent of its tuition revenue with Zovio -- a similar arrangement to the deal between Purdue University and Kaplan University that resulted in the formation of Purdue University Global.
Global Campus is guaranteed $225 million in revenue over 15 years and will be reimbursed for operating costs. A $37.5 million upfront payment from Zovio is included in that figure, according to reporting by The Wall Street Journal...