Eye on skilled upskilling, Byju’s buys Great Learning for $600 million

Byju’s on Monday stated it has acquired edtech startup Great Learning for $600 million in a money, inventory and earnout deal. The transfer will assist the agency, which is valued at $16.5 billion, acquire a foothold within the skilled upskilling and better schooling house.
The acquisition comes days after Byju’s acquired US-based youngsters digital studying platform Epic in a $500 million deal. Earlier this yr, the Bengaluru-based agency sealed its largest M&A (merger and acquisition) deal when it acquired brick-and-mortar check prep service supplier Aakash Educational Services in a $1 billion deal.
Byju’s stated that it’s going to spend one other $400 million to “accelerate” Great Learning’s development, thereby taking its whole funding dedication to the upper schooling house to about $1 billion.
“This partnership brings together Byju’s technology and content expertise with Great Learning’s sought-after professional courses at a significant time when the COVID-19 pandemic and evolving industry dynamics have encouraged professionals in India and globally to upskill themselves,” Byju’s stated in an announcement. “With our combined strength, we aim to become a global market leader in this segment,” stated founder & CEO Byju Raveendran.
Great Learning will proceed to function as an impartial unit throughout the Byju’s group underneath its founder & CEO, Mohan Lakhamraju and co-founders, Hari Nair and Arjun Nair. Byju’s is backed by a slew of marquee buyers together with General Atlantic, the Chan-Zuckerberg Initiative, Naspers, Silver Lake and Tiger Global.

In 2020, Byju’s secured over $1 billion from buyers. Earlier this yr, it raised near $1.5 billion from a clutch of buyers together with Facebook co-founder Eduardo Saverin’s B Capital Group, UBS Group and Blackstone in tranches. fe