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Company’s purchase of N.H. college could earn it $1 billion

Bloomberg News

March 9, 2010

ITT Educational Services, Inc., is the third-biggest higher-education company in the U.S. Its $3.8 billion market value may increase by 26 percent, or $1 billion, within five years because of the purchase of 1,200-student Daniel Webster in Nashua, N.H., according to an investor who has participated in the acquisitions of four nonprofit colleges. At least 75 percent of new revenue would come from access to the more than $100 billion a year in financial aid the U.S. hands out to college students, he said.

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