The first case of acquisition in the higher education sector in Croatia became official on Monday with the ceremonial signing of the contract between Vern and the Zagreb School of Management (ZSM).
Veleučilište Vern, the first Croatian private higher education institution, has become richer by two ZSM study programs and around 500 students through this acquisition. – This is a logical union that makes us a group of 1,800 students with nearly 80 employees and 250 lecturers – said Ozren Jureković, the CEO of Veleučilište Vern. Since ZSM is a school specialized in education in tourism, Vern has entered this sector with the acquisition, and will now offer seven study programs under one brand. The value of the acquisition has not been disclosed, and the founders of ZSM will remain in the project, but with a 20% stake.
– We had quite a few offers from both domestic and foreign entities, but we chose Vern, among other reasons, due to its reputation – said Zoran Klarić, the dean of the Zagreb School of Management. Vern noted that they consider this acquisition the beginning of the consolidation of private education in Croatia. The likelihood of similar acquisitions in the future was hinted at by Branko Štefanović, the director of the Vern group, who mentioned that the quality in the private education market is being compromised. – Any step that leads to consolidation should be welcomed – said Štefanović, although he did not want to comment on future acquisitions by Vern.
