Lowenstein Sandler represented Holberton, Inc., a Silicon Valley-founded, project-based, college alternative educating the next generation of software engineers, in its pending acquisition by African Leadership International (ALI), which aims to transform Africa by developing three million entrepreneurial leaders by 2035.
The acquisition will give ALI ownership of the advanced technology program that will enable ALI to provide global organizations access to a significant untapped workforce capable of bridging the growing global shortage of technology talent. It will also change the lives of millions of Africans by equipping them with the software engineering skills essential for the future digital workplace.
The acquisition is expected to be completed in the third quarter. As part of the transaction, the Holberton School network will be separated into an independent organization.
Founded in Silicon Valley in 2015, Holberton's innovative and flexible delivery of the "OS of Education" provides a unique portfolio of tools, auto-graded tailored curricula, and teaching methods to help its customers — education institutions, universities, corporations, governments and Holberton School franchisees — train the next generation of digital talent at scale. Students trained using Holberton's technology have been hired by companies like Apple, Google, Tesla, LinkedIn, Dropbox, Pinterest, Rappi, and Nvidia.
Africa is experiencing rapid population growth. It has the youngest workforce in the world, with an average age of 19 years, compared to 48 years in Germany or Japan. The continent is expected to have a workforce of 1.1 billion by 2035 – larger than China or India's. As a result, global technology companies are increasingly seeing the continent as the next frontier for technology talent. Over the past three years, Twitter, Google, Microsoft, IBM, Alibaba among others, have all announced plans to open tech hubs in Africa.
The deal team included Ed Zimmerman, Anthony W. Raymundo, Brendan Koeth, Fernando Burman, Chad M.P. Weeks, Samy A. Akli, Brian A. Silikovitz, Kristin V. Taylor, Darren Goodman, Batool T. Banker, Mark P. Kesslen, Oluwaseyi O. Amorin, Judith G. Rubin, Kathleen A. McGee, Jonathan C. Wishnia, Eric Sands, Chynara Tolubaeva, Jessica Billeter, Christian C. Contardo, Doreen M. Edelman, Matthew P. Hintz, and Christine Osvald Mruz.
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