Oxford: Penningtons Manches advises OUP on joint venture with AQA
Oxford University Press (OUP), a long-standing client of Penningtons Manches, has announced a joint venture with AQA to deliver a new suite of international GCSE and A-level qualifications.
The new organisation, Oxford International AQA Examinations, will support the growing number of students studying at schools outside the UK that teach a British curriculum.
The Penningtons Manches legal team, led by corporate partner David Tighe and commercial partner Chris Shelley, was heavily involved in the joint venture deal from the outset, advising OUP on the structure of the transaction and helping to negotiate commercial terms with AQA.
In addition to drafting and negotiating the joint venture documentation, tax and due diligence support were also provided.
Oxford International AQA Examinations will draw on the complementary strengths of OUP and AQA. OUP, a department of the University of Oxford and a recognised global academic and educational publisher, brings international reach as well as knowledge of the needs of students and teachers. AQA, with its expertise in developing and delivering world-class qualifications, will design the new international qualifications and manage their distribution and delivery.
Penningtons Manches has advised OUP on a number of acquisitions including Nelson Thornes, MyMaths and Numicon and provides commercial and IP support across a range of projects.
Commenting on the team’s role in the joint venture, Kate Harris, managing director, Oxford Education, OUP, said: “It is always a delight to work with the Penningtons Manches team and I would like to say a huge ‘thank-you’ to David and Chris for all the wonderful support they give us .
“Oxford University Press is committed to improving educational standards around the world and this joint venture will further extend and strengthen our support of learners and teachers and lead to higher educational attainment for millions of students around the world.”
It is expected that the first qualifications will be available for teaching from September 2016.
