Leading Australian job portal SEEK.com.au has increased its share in online course provider Online Education Services to $118.5M in an attempt to expand its global network. The amount was paid to their joint venture partner Swinburne University.
SEEK CEO Andrew Bassat told the Australian Financial Review there is an opportunity to expand internationally with new products and partnerships with new universities. "It makes sense for OES' future that it change structure ... to change and be controlled by us," he said.
So far SEEK has been successful with its international expansion ventures, particularly in Asia. In 2016 the portal generated 62 per cent of its sales revenue from its international business.
"We're absolutely committed to education ... our strategy is becoming a bit clearer," Bassat said