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ASX-listed company 3P Learning has been acquired by US-based digital learning company IXL Learning.
Firm: King & Wood Mallesons (IXL Learning).
Value: Undisclosed.
Area: M&A.
Key players: The KWM team was led by partners David Friedlander and Paul Schroder, who were supported by senior associate Shabarika Ajitkumar and solicitors Henry Sit, Stephanie Rigg and Vivien Ding.
Deal significance: Mr Schroder observed: “This transaction demonstrates that, despite the challenges currently facing global markets, it is possible for parties to do cross-border public M&A transactions.”
“Our team was able to execute this transaction through remote collaboration with IXL Learning and its other advisers Latham & Watkins, Luminis Partners and Evercore. It’s also exciting for my kids, who love 3P Learning’s products Mathletics and Reading Eggs.”
Mr Friedlander added: “We are delighted to have advised IXL Learning on its first investment in Australia and look forward to seeing a company we know well, 3P Learning, continue to thrive.”
“This transaction continues the strong tradition of KWM supporting US-based clients on transactions in this market.”
The transaction is expected to be implemented by early December 2020, KWM said.
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