July 6th, 2009
IRVINE, CA. International Education Corporation today announced that it has acquired American Auto Institute for cash. Headquartered in Cerritos, California, American Auto Institute has unique transportation education programs that prepare students for entry level careers in the automotive industry.
"This acquisition is consistent with our strategic objective to penetrate new urban markets in existing media markets within high demand career focused programmatic verticals," says Fardad Fateri, President and Chief Executive Officer of International Education Corporation. Dr. Fateri adds, "We are excited to be able to acquire AAI as it is known amongst employers and graduates to be a provider of top quality career education programs to serve the needs of the automotive industry."
Despite the turbulence in the economy, the senior executives at International Education Corporation believe this type of acquisition is a prudent approach for positioning the corporation for sustaining future success. "Smart money is now investing for expansion in key strategic economic pockets within high potential and historically high performing sectors," say Janis Paulson, Chief Operating Officer of International Education Corporation.
"There is always a need for top quality graduates for entry level positions in high demand sectors," says Ginny White, Executive VP of Marketing & Admissions for IEC. "We believe the need and demand for entry level automotive careers will continue to grow."