2U, Inc. Announces 15-Year Contract Extension with Simmons University
BOSTON and LANHAM, Md., Nov. 5, 2018 /PRNewswire/ -- 2U, Inc. (Nasdaq: TWOU), a global leader in education technology, today announced that it has extended its contract with Simmons University by an additional 15 years. The partnership between 2U and the university now goes through 2039 and applies to every existing 2U-powered program.
The contract extension covers Nursing@Simmons, which includes an online Master of Science in Nursing (MSN), Post-MSN to Doctor of Nursing Practice (DNP), and Registered Nurse (RN) to MSN. The contract extension also applies to SocialWork@Simmons, an online Master of Social Work degree, as well as the Simmons Enterprise Model, which aggregates four online degree programs: a Master of Business Administration (MBA), MBA in Health Care, Master of Science in Behavior Analysis, and Master of Public Health (MPH).
"When we first conceived of bringing Simmons programs online, advancing our mission and building on our existing strengths as a university were crucial to us," Simmons University President Helen Drinan said. "2U has helped us scale a variety of our key programs, bringing the unique Simmons experience to students across the globe and enabling us to remain a leader in transforming the nature and delivery of higher education. We are proud to extend this partnership with 2U, and continue our work together, innovating and adapting to students' evolving needs."
"As higher education undergoes a paradigm shift, Simmons has truly been at the forefront, acting as a catalyst for change and embracing their power to reimagine education," 2UGrad President Andrew Hermalyn said. "Since we began our partnership in 2012, Simmons has been committed to providing access to quality degree programs untethered by geography. We are proud to continue working alongside them in their efforts to ensure more students – regardless of location – can reach their highest potential."
Under the new agreement, 2U provided economic consideration to Simmons University that, over time, will reduce 2U's effective revenue share. However, over the remaining years of the agreement, 2U expects its effective revenue share will remain within the range of revenue share percentages it typically receives under its agreements.
About Simmons University
Simmons University (www.simmons.edu) is a nationally recognized private university located in the heart of Boston. Founded as a women's college in 1899, Simmons is dedicated to innovative teaching and engaged learning. Simmons University offers the only undergraduate program for women in Boston and numerous graduate programs open to all. Follow Simmons on Twitter at@SimmonsCollege and @SimmonsNews, and LinkedIn, at linkedin.com/school/simmons-university
About 2U, Inc. (Nasdaq: TWOU)
2U partners with great colleges and universities to build what we believe is the world's best digital education. Our platform provides a comprehensive fusion of technology, services, and data architecture to transform high-quality and rigorous campus-based universities into the best digital versions of themselves. 2U's No Back Row® approach allows qualified students and working professionals around the world to experience a first-rate university education and successful outcomes. To learn more, visit 2U.com.
Media Contacts:
Molly Greenberg, 2U, Inc.
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SOURCE 2U, Inc.
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