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Babcock has launched Pelorus, a transformative digital platform designed to connect the build, operation and support of maritime assets across their entire lifecycle.

The whole-life digital management platform provides real-time insight and intelligence across individual vessels, fleets and programmes, creating a connected ecosystem of information that supports assets from initial design and construction through to operational deployment and long-term sustainment. Already deployed, in selected Babcock managed marine build and support environments, the platform can also be adapted for use across other defence and critical infrastructure domains.

As momentum builds behind Hybrid Navy concepts, including our own ARMOR Force (Autonomous and Remote, Maritime Operational Response Force) approach, we’re advancing complementary digital support systems that support legacy fleets, new-to-service warships and future hybrid and autonomous capabilities within a single connected platform.

Coordinated through a central command centre, it synchronises data from multiple systems and sources, enabling programme teams, operators and support organisations to make faster, data-driven decisions. By bringing together previously disparate information, the platform helps improve programme performance, enhance operational readiness and optimise through-life support.

As navies around the world pursue major recapitalisation and modernisation programmes, Pelorus offers a scalable, digital solution that connects people, processes and systems, providing a rich and continuously evolving picture of asset performance throughout its lifecycle, redefining how the modern navy manages its assets.

The platform has been developed with partners to address a number of key trends shaping the future of naval capability, including increasing demands for fleet readiness and availability, digital shipbuilding transformation, the growth of artificial intelligence, analytics and digital twins, and the need to modernise and extend the life of existing fleets.

Sir Nick Hine, Chief Growth Officer and Chief Executive – Marine, Babcock said: “The future of maritime capability depends on the ability to connect design, production, operational and support data into a single digital environment. Pelorus provides our customers with a powerful whole-life view of their assets, enabling better decisions, improved performance and greater operational availability.

“By creating a connected digital thread from build to support, we can help navies and maritime operators accelerate delivery, optimise readiness and unlock greater value throughout the lifecycle of their assets.”

The launch reinforces our continued investment in digital innovation and supports our ambition to deliver smarter, more connected defence solutions that enhance customer capability and mission success.

Babcock launches transformative digital platform to connect shipbuil...

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Siemens and NVIDIA are putting AI to work in product design and production – and helping build the AI factories that power it. Ten months after expanding their partnership at CES, the companies are delivering new products and reporting measurable results from joint projects.

“Industrial AI gives our customers a once-in-a-century opportunity to do what was never possible before,” said Roland Busch, President and CEO of Siemens. “Together with NVIDIA, we are building the Industrial AI Operating System, combining their accelerated computing and AI platforms with our leading hardware, software, industrial AI and data. This will help customers make products smarter, factories more productive and infrastructure more efficient – with the safety, security and reliability industry demands.”

“AI is driving a new industrial revolution, transforming every industry and redefining what we can build and how we build it,” said Jensen Huang, founder and CEO of NVIDIA. “Together with Siemens, we are reinventing how chips are designed and AI factories are built – and putting that intelligence to work in the physical world, powering a new era of autonomous engineering and manufacturing.”

Designing the chips that enable AI
AI starts with chips. To deliver more computing power faster, Siemens and NVIDIA have developed AI agents that automate complex chip design tasks and verify their results using Siemens’ electronic design automation (EDA) tools and NVIDIA AI infrastructure. The latest application extends this work to electrical and thermal analysis.

As chipmakers stack components to build more powerful chips, heat becomes harder to manage and can limit performance. With Siemens’ AI-driven electrothermal workflow, engineers can predict where heat will build up and how it will affect a chip’s performance before manufacturing begins. AI agents plan and run the analysis across multiple engineering tools within Siemens’ EDA software portfolio. NVIDIA CUDA-X libraries accelerate the thermal simulation workflow, helping engineers evaluate design alternatives faster. The workflow helps engineers to set up multiple tools in under five minutes instead of several days and enables 50 times more design exploration than manual methods.

Building the infrastructure powering AI
AI factories turn data and energy into AI at scale. NVIDIA DSX defines the reference architecture for the AI factory. As a leading data center infrastructure provider, Siemens provides the electrical distribution, protection, automation and controls to the NVIDIA DSX architecture – from the grid connection to the AI rack – and the digital twin that customers use to design, build and operate the facility as one system.

Siemens, NVIDIA and ecosystem partners have introduced the NVIDIA DSX Vera Rubin Reference Design for the U.S. and European markets. These repeatable architectures translate NVIDIA DSX requirements into deployable power and controls infrastructure, bringing together power, cooling and compute requirements and adapting them to local standards to simplify planning, construction and operation. Siemens and Delta co-designed prefabricated, factory-tested electrical power modules that can reduce data-center time to market by up to 50 percent.

Siemens’ physics-based digital twin, developed with NVIDIA and built using NVIDIA Omniverse libraries, helps operators plan and optimize this infrastructure as one system. Even before construction begins, the digital twin shows how a facility will interact with the grid, where cooling could fall short and how noise from continuously operating cooling equipment could affect neighbors. Operators can identify and address potential bottlenecks, evaluate infrastructure tradeoffs that affect tokens per watt, and test noise-reduction measures before committing capital – helping them meet local requirements and build community trust. The digital twin can also provide utilities with additional visibility to inform grid-connection assessments. During operation, connected telemetry and simulation can help operators identify opportunities to improve cooling and electricity use.
Turning AI into real-world impact

Putting AI to work in industry means helping engineers develop better products faster and manufacturers run more resilient, efficient operations. To enable engineers to test more designs before building prototypes, Siemens combines its Simcenter simulation software with NVIDIA accelerated computing and NVIDIA CUDA-X libraries to accelerate supported simulation workloads. The package can run without an internet connection, keeping sensitive data on site. Simulations run up to ten times faster. Simcenter PhysicsAI uses models trained on simulation data to predict design performance up to 1,000 times faster than traditional simulation; local AI agents further accelerate simulation tasks, reducing manual effort and helping engineers iterate faster.

Siemens’ electronics factory in Erlangen serves as the blueprint for adaptive manufacturing. Here, Siemens and NVIDIA have developed and piloted AI applications that coordinate production tasks and prepare quality inspections. Intelligence Center X and Siemens’ operations software bring together data and workflows from enterprise resource planning (ERP) systems and the shop floor. AI agents built with the NVIDIA Factory Operations Blueprint (FOX) use this information to coordinate and optimize production planning, helping manufacturers adapt faster to changing conditions and cut costs by up to 20 percent.

For automated optical inspections, Process Preparation X uses Siemens’ Digital Twin and NVIDIA Cosmos Data Factory to create training data, eliminating a critical bottleneck in preparing quality inspections – the need to build physical prototypes – and helping to shorten time to market by up to 40 percent.

Manufacturers can also test production changes before implementing them. Digital Twin Composer – built using NVIDIA Omniverse libraries – connects virtual factory models to real operational data, and AI-powered factory scheduling allows teams to optimize production based on component availability, equipment maintenance and other variables. An initial customer deployment increased throughput by 20 percent. This implementation brings the NVIDIA Factory Operations Blueprint (FOX) to life through Siemens Intelligence Center X for operations.

Siemens and NVIDIA are advancing Industrial AI...

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DALLAS — A joint venture between AECOM (NYSE: ACM), Binnies and Ramboll today announced that it has been appointed by Singapore’s National Environment Agency (NEA) to deliver multi-disciplinary consultancy services for Phase 2 of the Integrated Waste Management Facility (IWMF). The facility will be a sustainable, highly advanced waste disposal facility that is integral to NEA’s long-term plans to meet Singapore’s future solid waste management needs.

Building on its role as Owner’s Engineer for Phase 1 of IWMF, which is currently being delivered by a team led by AECOM and Binnies with support from Ramboll, the joint venture will support the next phase of this nationally-significant project, located within Tuas Nexus — Singapore’s first integrated water reclamation and solid waste treatment facility.

Phase 2 will be designed to process up to 2,900 tons of waste per day, converting waste into energy while supporting resource recovery and exploring future carbon capture integration. IWMF’s co-location with the Tuas Water Reclamation Plant supports energy and resource recovery, reduces environmental impact and makes efficient use of space in land-scarce Singapore.

The joint venture will deliver services across planning, design, procurement support, construction supervision, and testing and commissioning. Drawing on its experience from Phase 1, the team will apply a refined multi-contract delivery approach that supports safe, efficient project execution.

Ian Chung, Chief Executive of AECOM’s Asia region, said: “The IWMF is a landmark project that reflects Singapore’s leadership in sustainable resource management. As Owner’s Engineer for Phase 1, we bring a strong understanding of the site, deep knowledge of the design and construction requirements, and its importance to Singapore. Together with our partners, we draw on global experience delivering complex, integrated infrastructure to support Singapore’s long-term growth and its sustainability ambitions.”

William Yong, Binnies Singapore Managing Director, said: “This new phase at Tuas Nexus combines the expertise of leaders in waste-to-energy engineering from AECOM, Binnies and Ramboll. Our team brings its global and local experience and proficiency in project management and construction supervision to support the development of this cutting-edge waste, water and energy processing system. The IWMF will play a significant role in the sustainable handling of municipal waste from across Singapore, making full use of the potential for energy generation on site through its advanced incineration systems, while exploring the infrastructure’s suitability for future carbon capture capabilities.”

Nick Fellows, Ramboll’s Managing Director for APAC, said: “As joint venture partners, we are honored to continue supporting NEA in delivering Phase 2 of the IWMF. By combining our regional strengths and global expertise, the partnership will deliver innovative and efficient waste-to-energy solutions. Together, we will work to realize the project benefits and set a new standard for resource recovery in the region and beyond.”

The joint venture combines local project experience with global waste-to-energy knowledge and practical experience, having delivered more than 200 facilities worldwide. Its continued involvement across both phases brings familiarity with site conditions, stakeholder requirements and the broader Tuas Nexus development.

Once completed, IWMF Phase 2 will play a key role in implementing Singapore’s integrated approach to waste and water management.

About AECOM 
AECOM (NYSE: ACM) is the global infrastructure leader, committed to delivering a better world. As a trusted professional services firm powered by deep technical abilities, we solve our clients’ complex challenges in water, environment, energy, transportation and buildings. Our teams partner with public- and private-sector clients to create innovative, sustainable and resilient solutions throughout the project lifecycle — from advisory, planning, design and engineering to program and construction management. AECOM is a Fortune 500 firm that had revenue of $16.1 billion in fiscal year 2025. Learn more at aecom.com.

About Binnies
At Binnies (www.binnies.com), we create new possibilities for humanity through our innovative approach to delivery. Backed by a culture that has stayed true since the company’s founding over 100 years ago, Binnies develops intelligent water and environmental solutions using a whole-life-cycle approach to deliver functional infrastructure and lasting environmental and social legacies. We strive to elevate the quality of life for our local communities today and for generations to come.
Binnies is an RSK Group company.

About Ramboll  
Ramboll is a global architecture, engineering and consultancy company founded in Denmark in 1945. Ramboll’s more than 18,000 experts create sustainable solutions across Buildings, Transport, Architecture & Landscape, Water, Environment & Health, Energy and Management Consulting. Across the world, Ramboll combines local experience with a global knowledgebase to create sustainable cities and societies. We combine insights with the power to drive positive change to our clients, in the form of ideas that can be realised and implemented. We call it: Bright ideas. Sustainable change. Read more on ramboll.com.

AECOM, Binnies and Ramboll joint venture appointed for next Phase of...

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PHOENIX--(BUSINESS WIRE)-- Phoenix Education Partners, Inc. (“Phoenix Education” or the “Company”) (NYSE: PXED) today announced that it has entered into a definitive agreement to acquire Fuel50, Inc., an AI-powered workforce transformation platform.

As AI transforms roles across industries, employers are navigating rapid changes in workforce skills and talent needs. Fuel50 brings workforce intelligence, talent marketplace and workforce planning capabilities, while Phoenix Education brings a commitment to workforce development and helping people build capabilities for the future of work. Together, the companies share a vision for connecting workforce intelligence, career-relevant skills and talent mobility in an AI-enabled workplace.

For Fuel50, the acquisition accelerates the next stage of its work with enterprise customers. Following completion of the transaction, Fuel50 will continue operating under its own brand. With the same focus that has built its platform to date, and in combination with Phoenix Education, Fuel50 is positioned to:

Advance AI-powered workforce intelligence to help employers understand workforce capabilities and anticipate and prioritize future skill needs
    Accelerate talent mobility and workforce transformation through career pathways, upskilling, reskilling and personalized development
    Extend its impact with enterprise employers as they navigate changing workforce needs

“The pace of change in the workplace is accelerating, particularly as AI reshapes how work gets done and the skills organizations need to compete,” said Chris Lynne, Chief Executive Officer of Phoenix Education Partners. “Fuel50 has built an impressive platform, deep workforce expertise and a compelling vision for helping employers understand changing skill needs and develop and mobilize talent. We believe strongly in Fuel50’s future and are excited to support its continued innovation and to help extend its impact with employers navigating workforce transformation.”

Fuel50 combines AI, workforce data, people science, and future-of-work technology across its platform. Its Workforce Intelligence suite provides actionable insights into workforce skills and evolving talent needs to inform workforce planning and talent decisions, while its Talent Marketplace connects employees with career pathways, roles and development opportunities that support upskilling, reskilling and internal mobility. Underpinning the platform is an enterprise-grade ontology of more than 5,000 skills, designed to integrate with existing enterprise technology environments.

"Fuel50 was founded on the belief that people should be able to see their potential and organizations should be able to see the capability already inside their workforce," said Anne Fulton, Co-founder and Chief Executive Officer of Fuel50. "AI makes that mission more urgent. Organizations now need to understand not only the skills they have, but how work itself is changing and what their people will need next. This combination creates an opportunity to connect workforce intelligence with workforce development at much greater scale. We look forward to joining with Phoenix Education Partners to bring together complementary strengths around understanding workforce capability and developing the people who will deliver the work of the future.”

The acquisition also advances Phoenix Education’s broader strategy at the intersection of skills, work and career opportunity. As the parent company of The University of Phoenix, Inc., Phoenix Education has significant experience serving working adults and employers through the University’s long-standing focus on career-relevant, skills-aligned education. Over time, working together, there are opportunities to more deeply connect workforce insights, learning, and career mobility in ways that create value for working adults and employers.

Following closing, Fuel50 is expected to continue operating as a distinct business within Phoenix Education under its own brand and will continue serving its enterprise customers. It is anticipated to be led by Jo Mills, Co-founder and President of Fuel50, who is expected to assume the role of Fuel50’s Chief Executive Officer following the close of the transaction. The teams will continue to explore how the respective capabilities can complement one another.

The transaction is expected to close within 30 days, subject to customary closing conditions, including receipt of required Fuel50 stockholder approvals and satisfaction or waiver of other closing conditions. Macquarie Capital served as exclusive financial advisor to Fuel50 on the transaction.

About Phoenix Education Partners, Inc.
Phoenix Education Partners, Inc. is the parent company of The University of Phoenix, Inc., a pioneer in online education for working adults. Founded in 1976, University of Phoenix provides access to higher education opportunities that enable students to develop the knowledge and skills necessary to achieve their professional goals, improve the performance of their organizations and provide leadership and service to their communities. For more information, visit phoenixeducationpartners.com.

About The University of Phoenix, Inc.
University of Phoenix is Built for Real Life. 50 Years Strong. The University innovates to help working adults enhance their careers and develop skills in a rapidly changing world through flexible online learning, relevant courses, academic AI pillars and skills-mapped curriculum for associate, bachelor’s and master’s degree programs. Active students and alumni have access to Career Services for Life® resources, including career guidance and tools. For more information, visit phoenix.edu.

About Fuel50, Inc.
Fuel50 is the Workforce Transformation Platform that helps enterprises understand, activate and evolve their talent from the inside out. Purpose-built for workforce transformation, Fuel50 provides the intelligence to see workforce capability, gaps, aspirations and internal potential — and the activation system to move employees into the roles, projects, learning, mentoring and career pathways the business needs next. With Fuel50, organizations can reinvent, redeploy, retain and reactivate talent at scale, reducing dependency on external hiring and disruptive restructuring while keeping the people who make transformation possible. Fuel50 partners with leading enterprises to build more agile, resilient and future-ready workforces. For more information, visit fuel50.com.

Phoenix Education Partners to Acquire Fuel50, Advancing the Future o...

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Navitas acknowledges the importance of examining new models and approaches to ensure Western Australia’s higher education sector remains fit for purpose and capable of meeting the changing needs of students, employers and the State’s future economy. As discussions on university reform progress, it is important that the strengths which have underpinned Western Australia’s success as an education destination are carefully considered alongside any proposed changes.

For more than three decades, Navitas has worked alongside Western Australian universities to help build the State’s reputation as a leading global education destination.

Navitas pioneered the pathway model to increase access to quality higher education, beginning with its partnership with Edith Cowan University and expanding through a second pathway college for Curtin University, as well as the operation of global campuses such as Curtin Singapore, Murdoch Dubai and ECU Sri Lanka. Through these partnerships, we have seen first-hand the value that strong, distinctive university brands bring to domestic and international students, industry and the broader Western Australian economy.

The Government has identified enhancing Western Australia’s global reputation and competitiveness as a key objective of university reform. Western Australia’s international education success has been built through a collection of universities with distinct identities, strengths and areas of excellence. Together, they have created a portfolio of globally recognised institutions that appeal to different students, industries and markets. That diversity has been a source of strength for the State and an important contributor to its international reputation.

Through our global recruitment network of more than 2,000 education agents and advisers, we understand there is no single pathway or motivation driving student choice. Students consider a wide range of factors when selecting a university, from academic reputation, graduate outcomes and industry connections, to affordability, location and student experience. Family recommendations, alumni networks, personal connections and established institutional reputations often carry significant influence.

Different universities resonate in different ways across different markets, reflecting the distinct strengths, identities and reputations they have developed over many decades. This diversity enables Western Australia to attract a broader and more diverse student population.

Diversity within the university sector is equally important for domestic students. Western Australians have different ambitions, learning preferences and life circumstances. Multiple institutions, pathways and program offerings create a range of entry points into higher education, helping ensure more students can access opportunities that align with their goals, capabilities and circumstances. Any change that is perceived to reduce choice, narrow pathways or diminish institutional differentiation should be carefully assessed against its potential impact on student participation, access and confidence.

Diversity within the university sector also benefits employers and industry. Different institutions develop different areas of expertise, research strengths, industry partnerships and graduate profiles. This gives employers access to a broader range of talent and helps ensure the higher education sector can respond to the varied workforce needs of a dynamic economy.

Those connections and perceptions are built over decades and become part of the institutional brands that students, families and employers around the world recognise and trust. These are assets that take generations to build and should not be undervalued in discussions about the future of the sector.

As discussion continues regarding potential university reform, it is important that any changes are assessed not only through the lens of scale and efficiency, but also through their impact on student choice, institutional reputation, international competitiveness and long-term value to Western Australia.

Experience elsewhere demonstrates that large-scale university mergers can be complex, costly and disruptive undertakings. They also require the creation of a new institutional proposition and identity, often replacing brands and reputations that have been built over many decades.

From an international education perspective, that transition can create uncertainty among prospective students, families, agents and industry partners who are familiar with established institutions and understand what those brands represent. Rebuilding that recognition, trust and market understanding can take considerable time and investment.

Any proposal should therefore clearly demonstrate how the expected long-term benefits outweigh the financial, operational and reputational costs of transition.

Western Australia needs a higher education sector that is globally competitive, financially sustainable and capable of delivering world-class teaching and research. It also needs a sector that preserves the diversity, reputation and institutional strengths that have helped Western Australia attract students, talent and investment from around the world for decades.

The future success of Western Australia’s university sector should not be measured by size alone. It should be measured by its ability to attract students, expand educational opportunity, support industry, advance research and strengthen Western Australia’s position as a globally competitive education destination. Navitas welcomes the opportunity to contribute to this important discussion and looks forward to engaging constructively with the Steering Committee and other stakeholders as the review progresses, with the shared objective of identifying the best long-term outcome for students, industry and the future prosperity of Western Australia.

Scott Jones, Group CEO, Navitas, said: 
“For more than 30 years, Navitas has helped connect students from around the world with Western Australian universities, giving us a unique perspective on what makes this State competitive as an education destination.

“What we consistently see is that there is no single formula for attracting students. Different students are looking for different things, and different university brands resonate in different ways across different markets.

“Students are influenced by reputation, graduate outcomes, industry connections and student experience, but also by alumni networks, family recommendations and personal connections. Those factors are built over decades and become part of trusted university brands that resonate around the world.

“Western Australia’s success has been built on a number of strong institutions with distinct identities and global reputations. That diversity creates value for students, employers and the wider community, and it is an important part of what makes the State attractive both as a study destination and as a place to invest, innovate and build careers.

“As reforms are considered, it is important to preserve the diversity, choice and international competitiveness that have helped establish Western Australia as a recognised and respected global education destination.”

Rod Jones, Founder and Chairman, Navitas, said: 
“While any Western Australian industry should always be prepared to consider new models and new ideas that have the potential to strengthen their sector and support the State’s long-term economic and social prosperity, decisions of this significance and impact must be informed by a rigorous, objective and evidence-based process that carefully assesses both the opportunities and the risks.

“The process must be independent, transparent and focused on identifying the best outcome for Western Australia as a whole with significant input from key stakeholders.

“The ultimate goal should be a higher education system that strengthens student choice, maintains diversity, expands access and opportunity, supports industry, advances research excellence and enhances Western Australia’s reputation as a globally competitive education destination.”

Navitas Response To Proposed University Reform In Western Australia...

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SCHAUMBURG, Ill.--(BUSINESS WIRE)-- Perdoceo Education Corporation (“Perdoceo” or the “Company”) (NASDAQ: PRDO), a provider of postsecondary education, today announced that it has entered into a definitive agreement to acquire 100% of the membership interests of South University Savannah, LLC (“South University” or “South”) from South University – Member, Inc. (the “Seller”). The material terms of the transaction are described in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission today. Completion of the acquisition is subject to customary closing conditions, regulatory approvals and accreditor approvals. The Company expects to complete the acquisition as early as April 2027. Following the closing, South will operate as a for-profit institution.

Founded in 1899 in Savannah, Georgia, South University is a leading health sciences-focused institution serving students through eleven (11) campus locations across Georgia, Florida, Alabama, South Carolina, Virginia, Texas and North Carolina, and through South University Online. South is accredited by The Southern Association of Colleges and Schools Commission on Colleges (“SACSCOC”) through 2034.

Once completed, the acquisition will firmly establish Perdoceo’s graduate health sciences offerings and further extend the breadth and depth of our academic program offerings.

South’s clinical health sciences portfolio is anchored by four licensure-driven programs:

Master of Science in Physician Assistant Studies (ARC-PA);
    Master of Medical Science in Anesthesia Science, Anesthesiologist Assistant (CAAHEP / ARC-AA);
    Doctor of Pharmacy (ACPE); and
    Nursing (CCNE): Bachelor of Science in Nursing, Master of Science in Nursing and Doctor of Nursing Practice programs.

South also offers physical therapist assistant, occupational therapy assistant, public health and counseling programs.

Perdoceo intends to invest in the drivers of graduate outcomes in these programs — clinical placement capacity and preceptor networks, faculty and program leadership, simulation and instructional technology, and licensure exam preparation.

Commenting on the transaction, Todd Nelson, President and Chief Executive Officer of Perdoceo, said, “South University has spent more than a century preparing students for in-demand careers. We intend to invest in clinical capacity, academic and student support services, and transformational initiatives that we believe will further enhance student experiences and academic outcomes at South University.”

Transaction Details
    To acquire 100% ownership of South, Perdoceo expects to pay cash consideration as follows:
        Approximately $130 million - $140 million at closing after adjustments for cash, net working capital, and certain debt-like items agreed upon, in each case based on South’s balance sheet as of beginning of April 2027, as well as indebtedness and Seller transaction expenses outstanding at closing;
        $18 million of deferred consideration in installments over 24 months following closing; and
        Up to $56 million of earn-out payments tied to specified EBITDA thresholds for fiscal years 2027, 2028 and 2029.
    As contemplated by the purchase agreement, Perdoceo has purchased a buyer-side representation and warranty insurance policy, which will serve as the primary source of protection against certain risks associated with representations and warranties made by the Seller and pre-closing tax liabilities. The representation and warranty insurance policy is subject to customary conditions, exclusions and deductibles and will survive for at least three years from closing.
    The transaction has been approved by the board of directors of Perdoceo and by the board of directors of the Seller; no other board, member or stockholder approval is required.
    The transaction is not subject to financing conditions. Perdoceo plans to use cash on hand for the purchase.
    The purchase agreement may be terminated in certain specified, limited circumstances, including if the closing has not occurred by July 9, 2027.
    For the year ended December 31, 2025, South University had unaudited revenues of approximately $291 million and adjusted operating income of approximately $34.0 million, and served approximately 10,500 students during the year ended December 31, 2025. Adjusted operating income is a non-GAAP financial measure and was calculated by adding depreciation, amortization and interest to South’s net income.
    Perdoceo expects the transaction to be immediately accretive to the Company’s adjusted operating income beginning in 2027 and to provide further growth in adjusted operating income in 2028.
    The acquisition of South is consistent with Perdoceo’s balanced capital allocation strategy of acquiring quality academic institutions, while also returning capital to shareholders via dividends and share buybacks.

Affirming Outlook for Fiscal Year 2026
Perdoceo remains on track to achieve its full year adjusted operating income outlook of $258 million to $263 million, as provided in the Company’s previous quarterly earnings release, subject to the assumptions and factors set forth therein.

ABOUT PERDOCEO EDUCATION CORPORATION
Perdoceo’s accredited academic institutions offer a quality postsecondary education to a diverse student population, with fully online, campus-based and hybrid learning programs. The Company’s academic institutions – Colorado Technical University (“CTU”), the American InterContinental University System (“AIUS” or “AIU System”), and University of St. Augustine for Health Sciences ("USAHS") – provide degree programs from the associate through doctoral level as well as non-degree seeking and professional development programs. Our academic institutions offer students industry-relevant and career-focused academic programs that are designed to meet the educational needs of today’s busy adults. CTU and AIUS continue to show innovation in higher education, advancing personalized learning technologies like their intellipath® learning platform and using data analytics and technology to serve and educate students while enhancing overall learning and academic experiences. USAHS prepares medical professionals to provide quality medical care to communities across the country primarily through its graduate health sciences degree offerings in physical therapy, occupational therapy, speech language therapy and nursing, as well as continuing education programs. Perdoceo's academic institutions are committed to providing quality education that closes the gap between learners who seek to advance their careers and employers and communities needing a qualified workforce. For more information, please visit www.perdoceoed.com.

ABOUT SOUTH UNIVERSITY
South University is a private institution founded in 1899 in Savannah, Georgia, offering undergraduate, graduate and doctoral programs across health sciences, nursing, pharmacy, business, counseling, public health, and arts and sciences. South educates students through eleven (11) campus locations in Savannah and Atlanta, Georgia; Montgomery, Alabama; High Point, North Carolina; Columbia, South Carolina; Richmond and Virginia Beach, Virginia; Austin, Texas; and Orlando, Tampa and West Palm Beach, Florida, and through South University Online. South University is accredited by the SACSCOC. For more information, please visit: www.southuniversity.edu.

Perdoceo Education Corporation Signs Definitive Agreement to Acquire...

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CHICAGO--(BUSINESS WIRE)-- Newly analyzed data from Covista (NYSE: CVSA) institutions Ross University School of Medicine (RUSM) and American University of the Caribbean School of Medicine (AUC) shows that students’ MCAT scores alone do not determine their likelihood of success in medical school. Strong academic support, student services and outcomes-focused curricula can help students achieve success across MCAT score ranges.

Analysis of internal and third-party data from the Association of American Medical Colleges (AAMC) found that students at RUSM and AUC passed the United States Medical Licensing Examination® (USMLE®) Step 1 on their first attempt at rates equal to or higher than U.S. MD students who entered medical school with comparable MCAT scores.

"An MCAT score measures where a student stands on one day — not who they can become as a physician," said Dr. Heidi Chumley, chief operating officer of medical and veterinary at Covista. "When capable, motivated students are given a rigorous curriculum and genuine, individualized support, they succeed. The fact that our students achieve first-time Step 1 pass rates comparable to, and in some cases exceeding, those of U.S. MD students across most MCAT score bands demonstrates what is possible when potential is matched with opportunity."

The advantage in favor of RUSM and AUC is widest in the lower and middle MCAT bands, where the schools enroll capable and motivated students that their programs are designed to foster, and first-time pass rates for all groups converge near the top of the scale in the highest MCAT bands.

Covista attributes the outcomes to rigorous medical sciences curricula paired with structured, built-in academic support. Both institutions broaden access to medical education, welcoming students across a wider range of MCAT scores, and offering multiple pathways into MD programs. At RUSM, every student is automatically enrolled in the Pathways to Step 1, which provides personalized advising, tutoring and group USMLE question reviews, reinforced by the school's Academy for Teaching and Learning and its Road to Success study-skills series. At AUC, academic support includes a multi-format tutoring program spanning one-on-one peer tutoring, small-group collaborative sessions and large-group course review.

At both schools, students must complete the Medical Sciences curriculum and pass a school-approved comprehensive examination before they are eligible to sit for USMLE Step 1. Students who feel they could benefit from more structured studying or who fail the comprehensive exam also have the opportunity to participate in structured remediation programs to help prepare them to pass the comprehensive exam and sit for the USMLE Step 1. AUC and RUSM offer students custom-built courses that combine individualized learning plans, performance-based interventions, faculty coaching, academic success advising, and intensive board-style assessment to ensure students demonstrate readiness before progressing to the USMLE Step 1 examination.

“The healthcare workforce shortage requires us to take a more holistic look at the education landscape, and a true assessment of the many talented, motivated people who want to become physicians,” said Scott Liles, president of medical and veterinary and chief strategy and performance officer for Covista. “This data proves something that our institutions have long known: that when capable students are cultivated rather than filtered by a single MCAT score, they meet or exceed their potential and become the physicians our communities need."

The findings carry added weight for the physician workforce. Covista’s Care Capacity Monitor, a survey fielded with Gallup, found that nearly 702,000 healthcare jobs are posted every month with only 306,000 unemployed clinicians to fill them. Expanding the physician pipeline, including international medical graduates, is part of the solution.

RUSM and AUC graduates go on to compete for and secure U.S. residency positions. RUSM reported a 96% first-time residency attainment rate for its 2025–2026 graduates, and AUC reported over a 98% first-time residency attainment rate for the same period.2

1 Comparison using university and AAMC data. Data is based on students who matriculated between 2021-2023 and sat for the USMLE Step 1 as of August 2026. Not all matriculants sat for the USMLE Step 1 exam. Students must successfully matriculate, complete the Medical Sciences curriculum and pass a school approved Medical Sciences Comprehensive Exam to sit for the USMLE Step 1 exam.

2 First-time residency attainment rate is the percent of students attaining a 2026-27 residency position out of all graduates or expected graduates in 2025-26 who were active applicants in the 2026 NRMP match or who attained a residency position outside the NRMP match.

Methodology

Comparison using university and AAMC data. Data is based on students who matriculated between 2021–2023 and sat for the USMLE Step 1. Not all matriculants sat for the USMLE Step 1 exam. Students must successfully matriculate, complete the Medical Sciences curriculum, and pass a school-approved Medical Sciences Comprehensive Exam to sit for the USMLE Step 1 exam. Comparisons are made within matching MCAT score bands and reflect first-time pass rates only. AAMC source: https://www.aamc.org/media/77326/download

About Covista
Covista (NYSE: CVSA) is America's largest healthcare educator, serving 100,000 students and supported by a community of 400,000 alumni across five accredited institutions. Through personalized, tech-enabled education powered by 10,000 faculty and colleagues, Covista expands access to healthcare careers and addresses the U.S. healthcare workforce shortage at scale. Covista is the parent company of American University of the Caribbean School of Medicine, Chamberlain University, Ross University School of Medicine, Ross University School of Veterinary Medicine and Walden University. For more information, visit covista.com and follow us on LinkedIn, Instagram and YouTube.

About Ross University School of Medicine (RUSM)
Ross University School of Medicine (RUSM), a Covista (NYSE: CVSA) institution, expands access and opportunity to students on the path to becoming skilled physicians determined to make an impact in global communities. RUSM has graduated more than 16,000 alumni who practice in the U.S. and Canada. Located in Barbados, RUSM is accredited by the Caribbean Accreditation Authority for Education in Medicine and Other Health Professions. Visit medical.rossu.edu for more information, and follow on Instagram, Facebook and LinkedIn.

About American University of the Caribbean School of Medicine (AUC)
American University of the Caribbean School of Medicine (AUC), a Covista (NYSE: CVSA) institution, is committed to training tomorrow’s physicians, whose service to their communities and patients is enhanced by international learning experiences, a diverse learning community, and an emphasis on social accountability and engagement. With campuses located in Sint Maarten and the United Kingdom, AUC has more than 9,000 alumni and is accredited by the Accreditation Commission on Colleges of Medicine. Visit aucmed.edu for more information and follow on Instagram, Facebook and LinkedIn.

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Brittany Lockard brittany.lockard@covista.com

Covista Medical Schools Students Match or Exceed U.S. MD Peers...

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OKLAHOMA CITY--Hobby Lobby Stores, Inc., today announced that it is raising its minimum full-time hourly wage to $21.00 effective October 5, 2026.

In 2009, Hobby Lobby was one of the first retailers to establish a nationwide minimum hourly wage well above the federal minimum wage, and has since raised its minimum wage fifteen times over the last eighteen years.

“A pillar of our success is taking care of our employees,” said Hobby Lobby founder and CEO, David Green. “For decades, we have closed our stores on Sundays, and at 8:00 p.m. the rest of the week, to help employees balance their work and personal lives, and have time for rest, family, and worship. We work hard to provide some of the best wages and benefits in retail, which allows us to attract and retain a great team of associates to serve our loyal customers.”

“As we head into the joyous holiday season, we are thrilled to share our success as a company with our thousands of dedicated employees,” said Green.

In addition to providing industry leading pay, Hobby Lobby also provides great benefits to eligible employees, including an outstanding medical, prescription, and dental plan, 401(k) with generous company match, flexible spending plan, long-term disability benefits, life insurance, vacation pay, sick/personal pay with annual buyback, holiday pay, chaplain services, and an employee discount.

Please visit, https://careers.hobbylobby.com/current-openings/retail-hourly for more information.

Hobby Lobby was founded in 1972 and currently operates more than 1,000 retail stores stocked with a treasure trove of over 80,000 arts, crafts, hobbies, home decor, seasonal, and custom framing products catering to those who seek to Live a Creative Life®

Please direct any media inquiries to Ashley Wilemon, ashley.wilemon@hobbylobby.com.

Hobby Lobby Raises Minimum Wage...