Apollo Group Buys Aptimus

Phoenix, Arizona-based Apollo Group, the parent firm of the University of Phoenix, said Wednesday that it has acquired online advertising network Aptimus, in an all-cash deal worth approximately $48M. Aptimus provides Internet advertising and ad optimization services, including a specific ad channel targeted at the education market. Apollo said that the acquisition will enhance the efficiency of its online advertising investments. Apollo Group also runs the Institute for Professional Development, the College for Financial Planning, Western International University and Insight Schools.