IU Group, a university group, completed the acquisition of The University of Fredericton, an online university. Financial terms were not disclosed. "We are excited to welcome UFred to our IU family. As we continue to grow, we enter a new era with UFred allowing us to continue building on our vision that everyone can access education to grow. This partnership represents an important evolution for IU and will allow us to make significant investments for the future – bringing advantages and new opportunities to students as we extend our services around the world. It's a fantastic opportunity for IU to partner with one of Canada's leading online universities," Sven Schuett, IU Group CEO of IU International University of Applied Sciences.