Byju’s acquires Epic for USD 500 mn

Edtech main Byju’s on Wednesday mentioned it has acquired Epic, a digital studying platform for teenagers, for USD 500 million (about Rs 3,729.8 crore).
The firm will make investments an extra USD 1 billion in North America to speed up its imaginative and prescient of “helping students fall in love with learning”, a press release mentioned.
The acquisition will assist Byju’s develop its footprint within the US by offering entry to the greater than two million lecturers and 50 million children in Epic’s present world user-base, which has greater than doubled over the past 12 months, it added.
Epic CEO Suren Markosian and co-founder Kevin Donahue will stay of their roles, it added.
“Our partnership with Epic will allow us to create participating and interactive studying and studying experiences for youngsters globally.

“Our mission is to fuel curiosity and make students fall in love with learning. Knowing that Epic and its products are rooted in the same mission, it was a natural fit. Together, we have the opportunity to create impactful experiences for children to become lifelong learners,” Byju Raveendran, founder and CEO of Byju’s, mentioned.
The alignment of missions and shared ardour makes Byju’s the proper companion, as Epic is assured that this acquisition will ignite pleasure for studying around the globe, Markosian, co-founder of Epic, mentioned.

“Together, we can help empower future generations of kids by fostering a lifetime love for reading and learning,” Markosian added.
Byju’s has aggressive plans for worldwide and US market enlargement, and the acquisition with Epic is not going to solely result in vital investments in know-how that can assist to additional personalised studying for college students but in addition allow Byju’s to develop into a pure a part of America’s studying tradition, the assertion mentioned.