Moore & Van Allen PLLC (MVA) is pleased to announce that it has served as lead counsel to Pamlico Capital and MetaMetrics, Inc. in the pending sale of MetaMetrics® to Apax Digital Fund. MVA Corporate members Richard (Rick) M. Bange III and Michael (Mike) Ryan Miller, and Corporate associates Emerich F. Gutter, Stacy G. Grant, Kathryn J. Hesman and Ethan B. Clark, led the MVA team representing Pamlico Capital and MetaMetrics in the transaction. Additional MVA attorneys and professionals who provided significant assistance on the matter include: Robert (Rob) A. Fisher and Randy J. Clark (Tax); Dickson M. Lupo, Tucker J. McKinleyand James (Van) V.C. Gambrell(Intellectual Property); Daniel (Danny) L. Johnson Jr.and Beth Yount Grimes (Employee Benefits);Christopher D. Thompson(Real Estate); Matthew (Matt) R. Mollozzi (Finance); M. Cabell Clay and William (Bill) M. Butler (Regulatory Matters); and Cynthia McDaniel (Paralegal Support). The definitive agreement was announced on July 30.
Founded in 1984 and based in the Research Triangle, MetaMetrics is the developer of the widely adopted Lexile Framework® for reading and Quantile Framework® for mathematics. MetaMetrics, led by Co-Founder and CEO Malbert Smith III, Ph.D., uses predictive analytics and data science to improve educational outcomes. The Lexile and Quantileframeworks place the student and instructional material on the same scale to match the learner with reading and math resources at each student’s ability level. MetaMetrics’ partners include leading providers of educational technology and assessment solutions, state departments of education, and publishers who incorporate MetaMetrics’ scales in their products. More than 35 million students receive a Lexile measure each year.
Apax Digital Fund is the technology-focused growth equity fund advised by global private equity advisory firm Apax Partners. Apax Digital, led by Managing Partner Marcelo Gigliani and Vice President Zach Fuchs, will support MetaMetrics in delivering increased value to students, educators and the company’s partners, in particular through new product development and international expansion.
“It’s been a pleasure partnering with Malbert and the entire MetaMetrics team,” said Pamlico Capital Partner Scott Stevens. “We appreciate all the hard work put into the business over the last four years with us and we are excited to see what MetaMetrics continues to accomplish with Apax Digital moving forward.”
The transaction is expected to close in September 2019, subject to regulatory approval. Financial terms were not disclosed.
About Moore & Van Allen
Moore & Van Allen PLLC (www.mvalaw.com), founded in 1950, has more than 300 attorneys. Ranked in the prestigious “Am Law 200” list, Moore & Van Allen has offices in Charlotte, North Carolina, and Charleston, South Carolina. The attorneys at Moore & Van Allen provide sophisticated legal services within their nationally recognized Litigation, Corporate, Finance, Intellectual Property and Real Estate law practices for international banks and manufacturers, energy leaders, and growing healthcare and technology companies. U.S. News & World Report andBest Lawyers recognized Moore & Van Allen in their 2019 “Best Law Firms” rankings, both regionally and nationally.
