Education

We advised Global Education Holdings (GEDU).... Read more

We advised Global Education Holdings (GEDU), a UK-based educational group, on its acquisition of Schiller International University, the first American university with multiple campuses in Europe.

This transaction expands GEDU’s global footprint into the United States.

Lawyers in our Baltimore and Washington, D.C. offices led the transaction, with support from our Denver, Miami, New York, and Philadelphia offices and our banking, capital markets, education, employee benefits, employment, intellectual property, international trade, privacy and cybersecurity, real estate, regulatory, and tax practices.

We advised e-learning provider Go1 on its acquisition.... Read more

We advised e-learning provider Go1 on its acquisition of Blinkist, a Germany-based mobile learning app used by tens of millions of users worldwide.

The acquisition expands Go1’s reach to mobile users seeking to learn new skills and stay updated on business and self-improvement topics.

Lawyers in our Boston and Munich offices led the transaction, with support from our Brussels, Frankfurt, New York, Northern Virginia, and Washington, D.C. offices and our antitrust, employment, finance, intellectual property, international trade, and tax practices.

We advised Meharry Medical College, a historically.... Read more

We advised Meharry Medical College, a historically Black medical school, and its affiliate the Diaspora Human Genomics Institute on their collaboration with Regeneron, AstraZeneca, Novo Nordisk, and Roche to launch the Together For CHANGE initiative.

The initiative will fund genomics learning at HBCUs and create the largest African ancestry genomics database, enabling more equitable medical research and better health outcomes for Black populations worldwide.

Lawyers in our Washington, D.C. office led the transaction, with support from our Madrid, New York, and Northern Virginia offices and our intellectual property, privacy and cybersecurity, regulatory, and tax practices.

We advised Northwest Evaluation Association (NWEA).... Read more

We advised Northwest Evaluation Association (NWEA), a research and educational services organization, on its sale to Houghton Mifflin Harcourt (HMH), a leading learning technology company.

The transaction allows NWEA and HMH to better support teachers and students with research-backed curriculum and best-in-class assessments.

Lawyers in our Silicon Valley office led the transaction, with support from our Baltimore, Denver, London, Los Angeles, New York, Philadelphia, San Francisco, and Washington, D.C. offices and our antitrust, intellectual property, privacy and cybersecurity, private equity, and tax practices.

Sector performance

In 2023, technology continued to play a significant role in shaping M&A activity within the education sector. Education businesses strategically pursued tech expansion to diversify their offerings and meet the sector’s growing demand for integration and technological advancement. 

Both higher education and K-12 entities explored edtech-related investments, including for adaptive learning tools, learning management systems for academic and administrative purposes, and online course delivery and testing platforms. Transactional activity surged among companies specializing in reskilling and upskilling workers, partly in response to tightness in the labor market.


Hogan Lovells activities

In 2023, the globalization of academic medicine emerged as a defining trend in the education sector, with our Education team playing a leading role in guiding novel and innovative projects for universities and their affiliated hospitals. We represented several preeminent medical centers in negotiating transactions that would allow them to expand their medical education, training, and support services across diverse jurisdictions to meet the changing needs of global learners.

In response to continued challenges brought on by shifting market dynamics, we guided clients – including colleges and specialized institutions – through a range of initiatives, such as distance education endeavors, M&A activities, consolidations, strategic alliances, overseas expansions, and organizational restructurings.

They have a truly global reach that allows them to be a one-stop shop for us.”

Legal 500 US, 2023

120+

Education
lawyers

Tier 1

Education Law
Legal 500 US, 2023

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M&A Year in Review

Expander

Dear Clients and Friends,

Welcome to the 10th edition of our Hogan Lovells M&A Year in Review! We created our M&A Year in Review to express our gratitude to you – our clients and friends – for the opportunity to work together and for the successes that we have shared. We hope you enjoy our review of dealmaking during 2023 and our projections for M&A during 2024.

Global M&A activity in 2023 slowed to a 10-year low. Aggregate deal volume decreased by 6%, to a three-year low, and aggregate deal value declined by 17%, marking the first time global deal value failed to reach US$3 trillion since 2013. 

A combination of factors led to this decline in dealmaking, including persistent inflation, heightened cost of capital, increased regulatory scrutiny, fears of recession, and conflicts in Europe and the Middle East.

During 2023, sponsor-related M&A experienced a significant downturn in both volume and value, with deal value falling 40% and deal volume down 26%. For strategic M&A, deal value declined by 3% from 2022, and the number of strategic deals declined 13% during the same period.

Sector activity varied widely during 2023. M&A in the energy and power sector propelled the conversion from traditional to clean energy, with transaction value exceeding more than US$500 billion and accounting for 17% of overall M&A value. The technology sector experienced a 47% decline in M&A value compared to 2022, as companies and investors pursued smaller transactions driven by technology imperatives. Life sciences and health care M&A remained vibrant in 2023, with deal value increasing by 23% compared to 2022 – a trend driven by high-value transactions in the biotech and pharmaceutical sectors.

Our M&A Group is grateful to have worked with you over the course of 2023. Your transactions propelled Hogan Lovells to more than 30 M&A league table rankings worldwide, including for Global M&A and across Europe, France, Germany, Italy, the Nordics, the United States, Latin America, Asia, Australia, and India.

For the year ahead, we forecast measured optimism for meaningful increases in deal value and deal volume, as set forth within our 2024 M&A Outlook.

We appreciate the trust that you continue to place in us, and we look forward to supporting you on your M&A transactions in the year ahead.

Best wishes for continuing success in 2024,

The Hogan Lovells M&A Group