Fenwick is representing Paper, an on-demand Educational Support System (ESS) that partners with school districts to deliver 1:1 tutoring that is equitable, scalable and cost-effective, in its acquisition of Readlee, an innovative learning tool that uses artificial intelligence (AI) and speech recognition technology to help students improve their reading skills. The newly acquired Readlee will become Paper Reading, fully integrated into Paper’s ESS, and available to over 3 million students nationwide.
Paper's acquisition of Readlee will allow the two companies to combine their expertise and resources to develop even more innovative solutions to the literacy crisis. More information can be obtained from Paper’s announcement.
The Fenwick transaction team included corporate partners Bomi Lee and Victoria Lupu and associates Sam Fleuter, Brandon Johnson and Riddhi Adhikari; technology transactions partner Joseph Schenck, associates Russell Wong and Barbara Wong and advisor Sandra Weustink; executive compensation and employee benefits partner Marshall Mort and associates Christophe Delrieu and Elizabeth Fu; tax partner Michael Knobler and associate Alexis Maguina; and privacy and security partner Tyler Newby, counsel Ana Razmazma and associate Samantha Ong.