Maddocks advised Swinburne University of Technology on a deal that saw SEEK purchase a greater stake in Online Education Services, a joint venture between the university and the online employment and recruitment site.
Online Education Services, a 50/50 joint venture between Swinburne and SEEK, provides education qualifications online on behalf of education partners. There are currently more than 9,500 students enrolled.
Under the $118 million deal announced in March 2017, SEEK increased its stake in Online Education Services from 50 percent to 80 percent by acquiring 30 percent of Swinburne’s previous 50 percent, taking the parties to 80:20. The deal values Online Education Services, which was established with a $5 million investment from each of Swinburne and SEEK in 2011, at over $350 million.
The Maddocks team assisting Swinburne’s COO Andrew Field, Head of Strategy and Commercial David McCall and General Counsel Tom Rowan was led by partner Rob Gregory and included senior associate Viviane Karoumbalis and associate Georgia Hunt.
The firm’s role on the matter showcased Maddocks’ expertise in both the technology and education sectors.