Press Release

Kirkland Advises Instructure on Definitive Agreement to Acquire Parchment

Kirkland & Ellis advised Instructure Holdings, Inc. (NYSE: INST), the leading learning platform and maker of Canvas, on its definitive agreement to acquire Parchment, the world's largest academic credential management platform and network, for approximately $835 million. Parchment has more than 15,000 customers and has exchanged more than 165 million credentials over two decades and its acquisition is anticipated to significantly expand Instructure's existing customer base and unlock exciting new growth opportunities. The transaction is expected to close in the first quarter of 2024, subject to regulatory approval and customary closing conditions.


Read Instructure’s press release


The Kirkland team was led by corporate partners Peter Stach and Steven Page and capital markets partners Michael Keeley and Brad Reed, with assistance from corporate associates Jaisel Patel, Russell Howland, Becky Henz and Jeremy Hsiao; capital markets partner Cot Eversole; debt finance partner Brian Ford; tax partners Adam Kool and Rory Minnis; and technology & IP transactions partners Aaron Lorber and Jeff Seroogy.