Mosaic looks to buy ITI Education

Fredericton-based IT educator Mosaic Technologies Corporation says it’s interesting in acquiring the assets of ITI Education Corporation.

In a statement, released Sunday, Mosaic president and CEO Don Whitty said his company was interested in acquiring the seven branches of Halifax-based ITI which agreed to place itself into receivership late last week [see story – Ernst & Young appointed as receiver for ITI].

Whitty said his company would not be showing interest in the school if it did not believe that they could return ITI to “strong health and profitability.” He added that his company firmly believed in the value of the school’s curriculum, personnel and students.

Despite recent high-profile downturns, Whitty said he was confident in the future of Canada’s high-tech industry. He cited continued strong demand for top-quality students from top-quality schools and said with a revamped and improved ITI this is where the strength of Mosaic lies.

Mosaic chairman Rick Buckingham said the company has informed Ernst & Young of its desire to move forward quickly in order to minimize any negative impact on students, staff and the curriculum. Buckingham added that moving ahead quickly is also in the best interest of the creditors.

Mosaic can be reached at ITI is at