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STI signs deal to acquire West Negros University in Bacolod

STI Education Systems Holdings Inc. said Tuesday it signed an agreement to acquire a controlling stake in West Negros University in Bacolod City. WNU is owned by the Agustin family. STI said in a disclosure to the stock exchange the purchase of WNU was in line with the companys strategy to expand its business in the education sector. STI president Monico Jacob said in a text message he could not provide the acquisition cost of WNU as the company was still doing due diligence. STI said WNU was one of the biggest universities in Negros Occidental and Bacolod City with an enrollment record of 9,000 students for school year 2012-2013. The 65-year-old university is also an accredited school by the Philippine Association of Colleges and Universities-Commission on Accreditation for several of its colleges. Its eight collegesthe College of Education, College of Engineering, College of Criminal Justice Education, College of Arts and Sciences, College of Business and Management, College of Nursing and Allied Health Sciences, College of Maritime Studies, and College of Information Technologyoffer 28 associate and bachelors degree programs. WNU also has a School of Graduate Studies with masteral programs in education, public administration, nursing and English, as well as doctorate programs in educational management and public administration. The school also offers high school, elementary and pre-school education. STI earlier acquired a substantial stake in Philippine Womens University, which is owned by the Benitez family.  
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