iPeople Inc., an investment holding company of the Yuchengco Group focused on the education sector, announced on Monday that its board approved the merger of National Teachers College (NTC) and AC College of Enterprises and Technologies Inc. Following the merger, NTC will be the surviving entity.
In addition to the merger, iPeople’s board also approved plans to expand NTC’s campus in Bulacan, a province adjacent to Metro Manila, in view of the steady growth of enrollment. iPeople said since its acquisition in 2019, NTC’s enrollment has grown at compounded annual rate of 12 percent.
“This expansion will allow us to advance the Philippine educational system by making quality education more affordable and accessible to a greater number of Filipinos,” said Dr. Reynaldo Yea, chairman and chief executive officer of iPeople, in a statement.
For 2025, NTC expects its student population to continue to increase at 12 percent.
Financial details of the transactions were not immediately disclosed.
Founded in 1929, NTC was the first Philippine institution to offer collegiate programs focused on teacher education.
Another major shareholder of iPeople is AC Education Inc., the education arm of Ayala Corp. iPeople also owns Malayan Education System Inc., which operates as Mapúa University, and the University of Nueva Caceres, the first university in the Bicol Region.
For the current school year, iPeople said, enrollment rose 10 percent to 74,000. Around 54 percent of the student population comes from the affordable education segment.
