Fenwick & West represented Chegg, Inc. (NYSE:CHGG), the Student Hub, in its recently announced acquisition of Internships.com, one of the world’s largest student-focused internship marketplaces and a division of CareerArc Group LLC. Chegg acquired the data and assets of Internships.com for $10 million in cash and approximately $1 million in shares of Chegg Common Stock.
Chegg believes the acquisition will enable it to disrupt the highly inefficient and fragmented $5 billion college recruiting market and allow the company to fundamentally improve matching between students and employers, helping businesses to better identify the best candidates and students to develop the real world job skills they’ll need upon graduation. More information about Chegg’s acquisition of Internships.com can be obtained from the company press release.
The Fenwick transaction team included corporate attorneys David Bell, Jay Wedge and William Black; technology transactions attorneys Stephen Gillespie, Ana Razmazma and Michael Riskin; patent attorney David Wallace and trademark attorneys Mark Jansen and Christine Au-Yeung.