IBL News | New York
Singapore-based Emeritus.org announced this week the acquisition of ID Tech, an American leading summer camp company specialized in youth STEM education, for $200 million.
The transaction — which was made through Emeritus’ parent company Eruditus — marks Emeritus’ expansion into K12 STEM education. Based in Campbell, California, ID Tech will operate independently.
STEM career opportunities are projected to grow exponentially, with an estimated 3.5 million jobs in the U.S. alone that need to be filled by 2025.
Emeritus hosts over 200 short courses, online degree programs, boot camps, and CXO programs offered in collaboration with 50 top universities. The main skills taught are related to AR/VR, artificial intelligence, cybersecurity, software engineering, design thinking, and leadership to professionals.
“We believe that proficiency and mastery of skills should begin in K12, and that iD Tech will be instrumental as we jointly pursue our goal of closing STEM skills gaps globally,” said Ashwin Damera, Co-Founder and CEO at Emeritus.