Powered by MOMENTUM MEDIA
investor daily logo

Farewell Tribeca, hello Kaplan

  •  
By Madeleine Collins
  •  
2 minute read

Tribeca to experience change of the guard to Kaplan this July.

From July 2, students of financial services educator Tribeca will need to get used to its new name, Kaplan.

The United States educator Kaplan, a subsidiary of the Washington Post Company, bought Tribeca last year for $55 million.

Some of the most immediate changes will be seen in Tribeca's marketing material, website and email addresses, which will all change to Kaplan.

"Longer term, clients will see an expanded range of products and services as our access to the broader Kaplan network increases," Tribeca and Kaplan Australia chief executive Warren Jacobson said.

Tribeca has embarked on a growth strategy since its launch in 2004. 

It has acquired financial services and real estate training companies Webb Martin, Agency Training Australia, Australian Property and Business College, Monroe Topple and Associates and Exsell.

Kaplan, which had revenue last year of US$1.7 billion, is in the process of snapping up the education arm of the Financial Services Institute of Australasia (Finsia) for AUS$36 million.

Concerned practitioners and members are trying to boycott the sale, saying it will damage the industry.

Finsia members were asked to vote on the deal by today.

Newspaper company Fairfax has tried to sway the votes of Finsia members to overturn the Kaplan sale.

Fairfax has put up $42 million in a rival bid for the business, but Finsia's directors rejected the bid, saying it was too conditional.

Under the Kaplan deal, Finsia would also be rebranded.