Amazon Data Services is paying $427 million, stated GW spokeswoman Julia Garbitt.
An Amazon Web Services subsidiary is shopping for George Washington University’s Virginia Science and Technology Campus in Ashburn, Virginia.
Amazon Data Services is paying $427 million, stated GW spokeswoman Julia Garbitt, confirming particulars first reported on X by the GW Hatchet.
GW President Ellen Granberg introduced the sale, however not the client or the acquisition worth, in a letter to the varsity group Friday, saying it consists of “very favorable terms for the university.”
Granberg said the college couldn’t share specifics on the transaction due to a confidentiality settlement with the client.
GW can preserve utilizing the campus in Loudoun County for as much as 5 years below the settlement.
Granberg known as the sale “a pivotal moment for GW as we continue taking concrete steps to strengthen our foundation, align our resources with our strategic priorities for long-term financial health, and build the GW of the future, a university positioned to thrive for decades to come.”
Some of the applications housed on the Ashburn campus embrace nursing, engineering, physics and chemistry. There are additionally analysis labs and administrative buildings.
A portion of the gross sales’ proceeds will probably be used to make an endowment.
“The proceeds from the endowment will be used to make strategic investments in our research and teaching missions and to increase resources available for student financial aid,” Granberg stated.
There’s additionally a proposal to make use of a number of the funds to award one-time bonuses to eligible employees.
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