Perdoceo Education to Acquire South University

09:17 AM EDT, 09/14/2026 (MT Newswires) -- Perdoceo Education (PRDO) said Monday that it has agreed to acquire privately owned South University. Under the terms of the deal, Perdoceo will pay between $130 million and $140 million in cash at closing, subject to balance sheet adjustments. It also includes $18 million in deferred payments over 24 months and up to $56 million in earn-out payments tied to financial targets through 2029. Perdoceo said it plans to fund the purchase using cash on hand. South University owns 11 campuses in Georgia, Florida, Alabama, South Carolina, Virginia, Texas and North Carolina, as well as an online program. The company said South University will operate as a for-profit institution after the deal closes. Shares of Perdoceo were up 1.7% pre-bell.