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A private equity group has purchased Thomson Education Direct, a major distance-learning provider based in Scranton.
The New York City-based Wicks Group of Companies LLC purchased the company for an undisclosed amount, and new company leaders expect to expand the business.
Under the brand Penn Foster, the school will offer its high school, career and college products. The facility employs about 450 full-time equivalents and is the second-largest distance-learning provider in the country, behind University of Phoenix.
Stuart Udell has been named head of Penn Foster and will work to increase the school's share of the distance-learning market, estimated at $15 billion annually.
Formerly president...