DeVry was founded in Chicago and opened in 1931 as the DeForest Training School, named after Lee DeForest, a colleague and friend of founder Dr. Herman A. DeVry. In 1953, the name changed to DeVry Technical Institute in dedication to its founder. In 1966 the school was acquired by the Bell and Howell company, and became part of its Education Group division. In 1985 The Bell & Howell Education Group became known as DeVry Institutes, which was sold to Keller-Taylor Corporation, parent company of the Keller Graduate School of Management in 1987 to become DeVry, Inc.. DeVry acquired Ohio Institute of Technology in 1968, Becker Professional Review in 1996, Ross University in 2003, and the Deaconess College of Nursing in 2005. DeVry did not acquire rights to use the name "Deaconess College of Nursing", so it was renamed "Chamberlain" in 2006.[