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US-headquartered giant acquires Aus regulatory tech company

A global education giant headquartered in Florida has announced its acquisition of an Australian regulatory technology company.

March 13, 2017 • By Emma Musgrave
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Firms: Jones Day (Kaplan Inc.); Undisclosed (Red Marker Pty Ltd)

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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.

 
 

Value: Undisclosed

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.

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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.

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Emma Musgrave

Emma Musgrave

Author

Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.

Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences. 

Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.

She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University. 

Email Emma on: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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