King & Wood Mallesons (KWM) is pleased to announce it has supported US-based digital learning company IXL Learning on its acquisition of ASX-listed 3P Learning.
The acquisition of 3P Learning is among the very small number of public M&A transactions announced in the Australian market since the beginning of the COVID period.
The KWM team was led by Partners David Friedlander and Paul Schroder, together with senior associate Shabarika Ajitkumar and solicitors Henry Sit, Stephanie Rigg and Vivien Ding.
Paul 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."
Commenting on the transaction, David Friedlander said: "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.
