IDP Education
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{{Short description|International education organisation}}
{{Use British English|date=May 2023}}
{{Multiple issues|{{more citations needed|date=February 2013}} {{Lead rewrite|date=March 2021}}
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{{Infobox company
| name = IDP Education Limited
| former_name = International Development Programme (1969–2003)
| logo = 300px
| hq_location = Melbourne, Australia
| founded = {{Start date and age|1969}}
| traded_as = {{ASX|IEL}}
| website = {{URL|www.idp.com}}
| owner = Education Australia (25%)
}}
IDP Education Limited is an international education organisation offering student placement in Australia, New Zealand, United States, United Kingdom, Ireland and Canada.
History
IDP was established in 1969 as Australian Asian Universities' Cooperation Scheme (AAUCS) to assist universities in South-East Asia with development. In 1981 AAUCS changed its name to the International Development Program (IDP) of Australian Universities and Colleges and schools.{{cite web |title=Why IDP? History |url=https://www.idp.com/australia/why-idp/history/ |website=International Development Program |publisher=IDP Education |access-date=23 January 2024}}
In 2006, SEEK acquired 50% shares of IDP from the Australian universities consortium Education Australia . Education Australia was formerly known as IDP Education Australia Limited.{{cite web|url=http://www.educationaustralia.com/education_australia/about_education_aust_ltd.html|title=About Education Australia Ltd|access-date=17 March 2021|publisher=Education Australia Limited}}
In 2015, IDP became a list company which SEEK sold its 50% shares to the general public.{{cite news|url=https://www.afr.com/companies/windfall-return-for-seek-in-330-million-idp-float-20151125-gl80fi|title=Windfall return for SEEK in $330 million IDP float|date=26 November 2015|access-date=17 March 2021|newspaper=The Australian Financial Review}}
In January 2017, IDP acquired UK Educational listings company Hotcourses for £30 million. Hotcourses was co-founded by British politician and former Foreign Secretary Jeremy Hunt.{{cite news|url=https://www.theguardian.com/politics/2017/jan/16/jeremy-hunt-in-line-for-145m-windfall-over-hotcourses-sale|title=Jeremy Hunt in line for £14.5m windfall over Hotcourses sale|work=The Guardian|date=16 January 2017|access-date=17 March 2021|last=Walker|first=Peter}}{{cite web|url=https://www.bbc.co.uk/news/business-38638577|title=Hunt makes millions from sale of Hotcourses|website=BBC News|date=16 January 2017|last=Pollock|first=Ian|access-date=17 March 2021}}
In April 2020, IDP issued new shares that raised AU$175 million. In June, Education Australia, the holding company for the 38 universities of Australia (note: there are more than 38 universities in Australia, some of them are not the shareholders of Education Australia), sold 5% shares to the public.{{cite news|url=https://www.afr.com/rear-window/idp-s-university-shareholders-retiring-hurt-20201109-p56cu4|title=IDP's university shareholders retiring hurt|date=9 November 2020|access-date=17 March 2021|newspaper=The Australian Financial Review}} In March 2021, Education Australia announced to sell a further 15% shares to the public and announced that the remaining 25% shares of IDP would be distributed to the 38 universities.{{cite news|url=https://www.afr.com/street-talk/unis-flag-1-billion-idp-education-block-trade-20210311-p579we|title=Unis flag $1 billion IDP Education block trade|date=11 March 2021|access-date=17 March 2021|newspaper=The Australian Financial Review}}{{cite press release|url=https://investors.idp.com/DownloadFile.axd?file=/Report/ComNews/20210311/02352547.pdf|title=Update on Education Australia Shareholding|date=11 March 2021|access-date=17 March 2021|publisher=IDP Education}}
References
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