Sircon has agreed to buy the assets of Kaplan Compliance Solutions from the Washington Post Company.
Sircon, Okemos, Mich., is a unit of Vertafore Inc., Bothell, Wash., runs credentials management systems for financial services professionals and their regulators.
Kaplan Inc., a unit of the Washington Post Company, Washington (NYSE:WPO), built the for-profit Kaplan University School of Professional and Continuing Education over the years by starting its own professional education programs and by acquiring education businesses such as Dearborn Financial Services, eMind and BISYS Education Services.
The Washington Post Company has put a number of units on the block over the past two years. The company sold an Education Connections unit in April 2010 and Newsweek in September 2010, and it has been in negotiations to sell the Kaplan Virtual Education unit.
Kaplan Compliance Solutions, an arm of the Kaplan University continuing education school based in Indianapolis, develops software and services that companies and others can use to get producers “on board” and track the status of their licenses and any continuing education needs.
Sircon is especially good at delivering services in real-time, and Kaplan Compliance Solutions is good at handling securities industry credentials and business process outsourcing, according to Andrew Temte, president of the Kaplan University continuing education school.
The companies are not saying how much Vertafore has agreed to pay for the Kaplan Compliance Solutions assets, but they say the companies hope to complete the deal by Dec. 31.
Once the deal is completed, Vertafore and Sircon have agreed to make the Kaplan University continuing education school a preferred education services provider for compliance services customers.
- Allison Bell