Middlebury College to Sell Stake in Language Education Joint Venture

MIDDLEBURY, Vt. - Middlebury College announced today it has elected to sell its 40 percent share of Middlebury Interactive Languages (MIL) to K12, Inc.

The joint venture partners are currently working on the terms of the deal and expect the transaction to close by the end of the calendar year. Middlebury College exercised its sale right as permitted in the joint-venture agreement.

“Our partnership with K12 has been a valuable one for us,” said Middlebury College President Laurie Patton. “We have gained important experience in creating and delivering language-education programs online and we are pleased with the progress the company and its leadership have made.

“Ultimately, however, we made the decision to exercise our option to sell our stake in the company. Going forward, MIL will be able to chart its own strategic course without having to balance the different priorities of two owners.

“For our part, Middlebury remains committed to pursuing its tradition of excellence and innovation in language education at the College, the Middlebury Institute of International Studies at Monterey, the Middlebury Language Schools, and at our 36 Schools Abroad campuses.”

Since it was established in 2010 to provide online language education instruction to elementary and secondary schools, MIL now serves more than 200,000 students across the United States.

Middlebury Interactive Languages CEO Jane Swift thanked the College for its role in the company’s emergence and growth. “With the support of both our joint venture partners, we’ve been able to expand MIL’s positive impact on students and become a significant employer contributing to the vibrancy of the Middlebury community. Under the sole ownership of K12, Inc., we believe that Middlebury Interactive will reach its full potential as a game-changing provider of language education products and services.”