(June 10, 2010, Weil Gotshal News)
Weil, Gotshal & Manges LLP represented online educational service company Archipelago Learning, Inc. in its cross-border acquisition of instructional Web site publisher Educationcity Ltd. for $87 million in cash and Archipelago common stock. The acquisition expands Archipelago’s reach in the global education market.
Led by partner Kevin Sullivan (Corporate – Boston), the Weil Gotshal multi-disciplinary, multi-office team included partners Alexander Lynch (Corporate – New York), Jonathan Wood (Corporate – London), Andrew Yoon (Corporate – New York), Scott Sontag (Tax – New York), Brenda Coleman (Tax – London), and David Bower (Tax – Washington, DC); counsel Peter van Keulen (Litigation – London), associates David Laibstain (Corporate – Boston), Kyle Junik (Corporate – Boston), Aubree Corallo (Corporate – Silicon Valley), Maxine House (Corporate – London), Simon Burrows (Corporate – London), Tanya Forde-Chandler (Corporate – New York), Justin Lee (Corporate – New York), Faiza Rahman (Corporate – New York), Peter Schermerhorn (Corporate – New York), Caroline Geiger (Technology & IP Transactions – New York), Jennifer Wolff (Tax – New York), Mark Schwed (Tax – New York), Jae Fassam (Tax – London), Mavnick Nerwal (Tax – London), Astrid Sandberg (Employment Litigation – London), and Kimberleigh Scott (Technology & IP Transactions – London).
The $87 million transaction closed on June 9, 2010. Archipelago financed the cash portion of the purchase price deal with existing cash and incremental debt.
Dallas, Texas-based Archipelago Learning, Inc., a long-standing Weil Gotshal client, is the owner of the Study Island standards-based instruction, practice, assessment and productivity tools. Educationcity Ltd. is a UK-based publisher of EducationCity.com, an online K-12 educational content and assessment program with US operations in Naperville, Illinois.