Vitru, a provider of distance learning education services, agreed to acquire Unicesumar, a higher education institution in Brazil focused on the distance learning market, for $700m. "Since our IPO, we have selectively pursued dozens of M&A opportunities, looking at the strategic rationale and the value-creation potential of each of them. From the beginning, it was clear to us that we did not want to grow for the sake of growing, but instead we should look for companies that shared our values and beliefs in the power of high-quality education in the lives of our students. We believe we have found this ideal partner at Unicesumar. This agreement is a transformational deal for us, consolidating Vitru (through Uniasselvi and now Unicesumar) as what we believe to be the best and fastest-growing digital education player in Brazil. It also allows us to enter into Medicine education, a resilient and highly profitable segment. We are very grateful and honored by the trust placed in us by the founding families that created Unicesumar 30 years ago and are committed to carry on their legacy and maintain its successful culture going forward," Pedro Graça, Vitru CEO.