Kaplan acquires Red Marker
Clients Kaplan Inc.
Jones Day advised Kaplan Inc. 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.
Red Marker is an Australian regulatory technology company; its "Artemis" system uses artificial intelligence and will allow Kaplan to transform its professional education delivery from static syllabuses to dynamic programs which deliver learning material based on real-time monitoring of staff performance.
Florida-headquartered Kaplan is a giant in the global professional education industry and has annual revenue of around $US2 billion ($A2.6 billion). Kaplan plans to roll out Red Marker's Artemis system to more than 1 million students in 30 countries around the world. The deal means Australian artificial intelligence technology will be playing a major role in efforts to improve bank culture globally.