GEOS North America Announced on September 10 that it has signed a letter of intent [PDF] for the acquisition of all 12 GEOS schools in North America by Florida-based Open Hearts International College.*
When GEOS' Australia schools suddenly closed, GEOS North America was quick to tell its students that everything was OK. That didn't work out very well, did it? Now Open Hearts is making a similar statement:
Open Hearts International College, under owner and President Jenny Nieveen, has run a successful school in Miami for over 10 years, and with the acquisition of the GEOS operations, the goal of the company is to create the strongest and largest group of language schools in North America.
Upon the completion of the sale, GEOS North American schools will retain all staff and the company will continue to offer the highest level of customer service to both students and partners, local and international. The schools will also retain the “GEOS” name as well as relationships and commitments to all agents and vendors.
Open Hearts International College and GEOS North America look forward to building on the mutual strengths of both companies, and on becoming an industry leader in North America and around the world.
It's interesting that they are keeping the GEOS name given how quickly GEOS Australia and GEOS Japan collapsed earlier this year. Other than the press release, I know nothing else about the deal. Consider this an open thread to talk about the remains of GEOS North America.
*OK, the title of this post is misleading. GEOS has not been sold at this point, but expectations are that the deal will eventually be done.