The Ayala Group has acquired the National Teachers College (NTC) in a move to expand its foothold in the education sphere.
The Ayala Group completed its acquisition of the NTC through its eduction arm AC Education Inc. (AEI).
The conglomerate now has a 96 percent stake in NTC, a college which currently has 10,000 students.
AEI’s chief executive officer, Alfredo Ayala, will sit as NTC’s chair and president.
“We are very pleased to be part of NTC, given its 90-year heritage, excellent track record and well-known brand in teacher education, its new and fast-growing programs in business and information technology, well-regarded faculty who are steeped in both theory and experience, employees’ unflagging dedication and vibrant school spirit,” Ayala said.
“We are committed to working closely with all of NTC’s stakeholders to fulfill the vision of its founders and continue its growth momentum,” he added.
Ayala chair and CEO, Jaime Augusto Zobel De Ayala, for his part, said: “The Ayala Group is committed to investing in the education sector because we recognize that it is critical to building our nation. We believe that NTC can play an integral role in our efforts to contribute to a better education system in the Philippines, because of NTC’s long and successful track record in producing quality educators who go on to teach in both public and private schools.”
Outgoing NTC chair Rolando De Castro shared in a press statement released on Monday, April 30, NTC’s decision in selecting NTC’s buyer.
“We are very grateful that several groups had expressed their sincere interest in continuing the legacy of National Teachers College as established by our forebears,”
“In selecting the buyer who shall acquire the shares of NTC, it was important to look not only at the capability to expand the school’s horizons, but also at the alignment of values and vision for raising our Filipino youth to be excellent teachers, industry leaders, or capable, competent individuals, whatever path they may choose,”
De Castro added.
Founded in 1928, the NTC is the first school in the Philippines to offer General Education and now has 3,500 Education students under its wing.
Aside from Education, it also offers programs in Accountancy & Business, Arts & Science, Hospitality Management and Information Technology.
