Kaplan Inc.’s acquisition of the entire issued share capital of Red Marker Pty Ltd.


Jones Day has advised Kaplan Inc. in its acquisition of the entire issued share capital of Red Marker Pty Ltd.

A giant in the global professional education industry, the Florida-headquartered Kaplan, which has annual revenue of around $US2 billion ($2.6 billion), plans to roll out Red Marker’s Artemis system to more than 1 million students in 30 countries around the world, including many major banks. The deal means Australian artificial intelligence technology will be playing a major role in efforts to improve bank culture globally.

The financial terms of the deal, which will see Red Marker become a wholly owned subsidiary of Kaplan, have not been disclosed.

Red Marker was founded by Matt Symons, co-founder of peer-to-peer lender SocietyOne, his wife Mandy Symons, and Julian Broudou, a software developer. All will be staying with the company under Kaplan; so will all the engineering staff.

The acquisition points to a looming transformation of professional education delivery, as content shifts from static syllabuses to dynamic programs which deliver learning material based on real-time monitoring of staff performance.

Jones Day has advised Kaplan Inc. in its acquisition with a team led by partner Mark Crean (picture), assisted by associate Thomas Stack.

Involved fees earner: Mark Crean – Jones Day; Thomas Stack – Jones Day;

Law Firms: Jones Day;

Clients: Kaplan Inc.;