2U’s $800 Million Acquisition of edX

Paul Hastings advised 2U, Inc. on the deal while Goodwin Procter represented edX.

2U, Inc., a global leader in education technology, announced a definitive agreement to acquire substantially all of the assets of edX for $800 million.

Together, 2U and edX will reach over 50 million learners globally, serve more than 230 universities and corporate partners, and offer over 3,500 digital programs on the world’s most comprehensive free-to-degree online education marketplace.

The transaction is expected to close within 120 days, subject to customary closing conditions.

The Paul Hastings team advising 2U was led by Washington, D.C. corporate partner Brandon Bortner (Picture) with partner Richard Radnay and associates Jonathan Simons, Michael Kesler, and Daniel O’Connor advising on M&A matters and of counsel James Shea and associate Taylor Montgomery advising on securities and capital markets matters. Advice was also provided by partner Holly Snow with associates Joyce Shin, and Megan Craig (Finance); partner Douglas Schaaf and of counsel Amy Lawrence (Tax); partner Eric Keller and associate William McCue (Labor and Employment); partner Jane Song, and associates Laura Yip and April White (IP); partner Sherrese Smith and associate John Gasparini (Data Privacy and Security); partner Charles Patrizia (Regulatory); and associates Talya Hutchison and Mary Rogers (Trade Controls).

The Goodwin team was led by David Cappillo and Matt Reardon, and included Ken Gordon, Will Wang, Kimberly Snyder, Tracey Parker, and Khalid Elwanni (Corporate); Stephen Charkoudian, Steven Argentieri and Alex Moser (Intellectual Property); Paul Jin (Antitrust); Janet Andolina, Sonita Bennitt, and Matthew Dunay (Tax); Jennifer Fay and Caroline Galiatsos (Employment); Natascha George and Brittany McCants (ERISA & Executive Compensation); Ai Tajima (Risk Management & Insurance); Caroline Bullerjahn (Litigation); Milena Tantcheva and Zhe Yang (Debt Finance); Edward Amer (Private Equity); Jennifer Maimone-Medwick (Tax-Exempt Organizations); Jacob Osborn and Amy Josselyn (Global Trade); and Nathan Brodeur (Real Estate), with invaluable assistance from Dillon Kelley and Kimberly Martin.

Involved fees earner: Edward Amer – Goodwin Procter; Janet Andolina – Goodwin Procter; Steven Argentieri – Goodwin Procter; Sonita Bennitt – Goodwin Procter; Nathan Brodeur – Goodwin Procter; Caroline Bullerjahn – Goodwin Procter; David Cappillo – Goodwin Procter; Stephen Charkoudian – Goodwin Procter; Matthew Dunay – Goodwin Procter; Khalid Elwanni – Goodwin Procter; Jennifer Fay – Goodwin Procter; Caroline Galiatsos – Goodwin Procter; Natascha George – Goodwin Procter; Kenneth Gordon – Goodwin Procter; Paul Jin – Goodwin Procter; Amy Josselyn – Goodwin Procter; Jennifer Maimone-Medwick – Goodwin Procter; Brittany McCants – Goodwin Procter; Alex Moser – Goodwin Procter; Jacob Osborn – Goodwin Procter; Tracey Parker – Goodwin Procter; Matthew Reardon – Goodwin Procter; Ai Tajima – Goodwin Procter; Milena Tantcheva – Goodwin Procter; Will Wang – Goodwin Procter; Zhe Yang – Goodwin Procter; Dan O’Connor – Paul Hastings LLP; Brandon Bortner – Paul Hastings LLP; Megan Craig – Paul Hastings LLP; John Gasparini – Paul Hastings LLP; Eric Keller – Paul Hastings LLP; Michael Kesler – Paul Hastings LLP; Amy Lawrence – Paul Hastings LLP; William McCue – Paul Hastings LLP; Charles Patrizia – Paul Hastings LLP; Richard Radnay – Paul Hastings LLP; Douglas Schaaf – Paul Hastings LLP; James Shea – Paul Hastings LLP; Joyce Shin – Paul Hastings LLP; Jonathan Simons – Paul Hastings LLP; Sherrese Smith – Paul Hastings LLP; Holly Snow – Paul Hastings LLP; Jane Song – Paul Hastings LLP; April White – Paul Hastings LLP; Laura Yip – Paul Hastings LLP;

Law Firms: Goodwin Procter; Paul Hastings LLP;

Clients: 2U Inc.; edX;

Author: Martina Bellini