The SoftBank-backed edtech company said it will rebrand Massachusetts-based Readlee as Paper Reading. The tool analyzes how students read aloud and provides feedback to teachers and students via AI and speech recognition technology. Paper declined to disclose the financial terms of the deal. (The Logic)

Talking point: Students from the U.S. make up most of Paper’s three million users. “Improving literacy proficiency is an essential component of our mission, and we believe research-backed technology and repeated practice are the keys to addressing the mounting literacy crisis,” Paper’s co-founder and CEO Philip Cutler said in a release, which noted that about one in three American high school students graduate with proficiency in reading. In February, Paper acquired career and college readiness tool MajorClarity months after Cutler expressed an interest in making acquisitions in an interview with The Logic.