Education services provider Navitas (ASX:NVT) will buy new media education provider SAE Group for $289 million.
Navitas said it expects the acquisition, which will be funded via new debt facilities, to be earnings per share accretive to the tune of high single digits in FY11.
The purchase price is 8.75 times SAE Group's estimated ebitda from calendar 2010.
SAE Group was founded in Australia in 1976, and now runs 46 media technology training institutes across 19 countries.
NVT shares ended Tuesday's trading unchanged at $3.990.
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