March 8, 2002

Sylvan Gains Controlling Interest in Walden

By MICHAEL ARNONE

Sylvan Learning Systems Inc. has acquired a controlling interest in Walden University, an online provider of graduate degrees. Sylvan paid $8-million to increase its stake in the institution to 51 percent.

The takeover was planned for more than a year, said Robert H. Scales Jr., chief executive officer at Walden. Sylvan bought 41 percent of Walden's ownership shares last year. The two for-profit education companies agreed that Sylvan could acquire an additional 10 percent this year,

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