MIDDLEBURY, Vt. – Middlebury College has finalized a separation from Middlebury Interactive Languages (MIL), a partnership the College entered with the education company K12 in 2010 to deliver online language instruction to primary and secondary schools.
The College sold its 40-percent stake in the company to K12 last December.
A second phase of the separation involved revising Middlebury College’s trademark agreement with K12. Under the terms of the revised trademark pact, K12 will rename the company by the end of 2019. The company also will not create any new courses using Middlebury trademarks.
After fees, Middlebury College realized a gain of approximately $700,000 on its original investment of $5.3 million. The investment was funded entirely as part of Middlebury’s endowment and proceeds from the sale will be reflected in the endowment.