Lakshmikumaran and Sridharan (LKS) has acted for Educational Testing Services (ETS) on acquiring PeopleStrong’s assessment and remote proctoring business, Wheebox, for an undisclosed amount.
LKS provided transaction support, including structuring, legal due diligence, negotiation, finalising transaction documents, and assistance on matters involving closing the deal.
The core team included partner Kunal Arora, principal associate Manan Chhabra, senior associate Dikshita Damodaran, and associates Ruchika and Aman Gupta.
Principal associate Kumar Panda, senior associate Sameer Avasarala and consultant Aishwarya Narasimhan supported the due diligence team.
The LKS direct tax team consisted of executive partner S Vasudevan, associate partner Karanjot Singh, principal associate Harshit Khurana and associate Sonali Bansal.
Associate partner Satya Sai and principal associate Satish Gandla led the LKS indirect tax team.
Wheebox provides AI-powered assessments to enable academia, institutions and organisations to conduct cheat-proof assessments. For more than a decade, Wheebox has been providing on-demand remote proctored assessments and learning solutions to a wide array of private and public sector companies.
Remote proctoring is a service that emulates the role of an on-site proctor – confirming the identity of the test-taker and safeguarding the integrity of the exam – using an internet-delivered or phone-delivered assessment monitored by an offsite proctor.