TORSTAR TO PURCHASE INTEREST IN TECHNOLOGY EDUCATION
By Adnews Staff
Toronto-based Torstar Corp. is getting into the education business. The publishing company has bought a 26% stake in ITI Education Corp. for $30 million. ITI is a postgraduate information technology education institution. The deal is expected to close on June. 12. "We are delighted to have the opportunity to invest in ITI," Torstar president and CEO David Galloway says in a release. "Management has done an excellent job in developing high quality information technology education programs and we look forward to working with them on expanding the business in the future. The demand for skilled information technology professionals is growing worldwide and we believe ITI is a leader in this market." The purchase will allow ITI to expand in Canada and internationally. Torstar publishes The Toronto Star, as well as various community newspapers. Its other divisions include Harlequin Enterprises and the Children's Supplementary Educational Publishing division.