Firms: Jones Day (Kaplan Inc.); Undisclosed (Red Marker Pty Ltd)
Deal: Kaplan Inc. (Kaplan) has been advised on its acquisition, acting through Kaplan Australia Pty Ltd, of all of the issued share capital of Red Marker Pty Ltd, together with all vested and unvested options for shares issued by the company.
Area: M&A, intellectual property
Key players: Jones Day’s Sydney office were the legal team advising Kaplan on this transaction.
Deal significance: Red Marker is an Australian regulatory technology company.
The company's "Artemis" system uses artificial intelligence and will allow Kaplan to transform its professional education delivery from static syllabuses to dynamic programs, which deliver learning materials based on real-time monitoring of staff performance.
Meanwhile, Florida-headquartered Kaplan is a giant in the global professional education industry and has annual revenue of around AU$2.6 billion.
As part of this recent acquisition, Kaplan plans to roll out Red Marker's Artemis system to more than 1 million students in 30 countries around the world.
According to a statement from Jones Day, the deal means Australian artificial intelligence technology will be playing a major role in efforts to improve bank culture globally.