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Intueri to pay $1.2M for IT training institute to widen offering, drive growth

Intueri Education Group, New Zealand's largest private training college, agreed to buy the Information Technology Training Institute for $1.2 million to add sought after IT training to its offering.

The Auckland-based institute has offered IT training since 1997, providing a range of internationally recognised computer and information technology qualifications, Intueri said in a statement. The conditional purchase will be funded from existing cash reserves, Intueri said.

The IT training institute will help lay the foundation for Intueri's entry into IT provision at a level that is in high demand with international students, as well as complementing Intueri's existing offering, said chief executive Rob Facer.

Intueri, which listed on the New Zealand stock exchange in May, is expanding its course offerings to drive growth, having bought the New Zealand-based education provider Quantum Education Group, the remaining half of Online Courses Australia Group that it didn't already own and Academy Group NZ, adding courses for pharmacy technicians, florists, motor trades and building.

Shares in Auckland-based Intueri last traded at $2.90, having floated in the initial public offering at $2.35 apiece.