Byju’s acquires Epic for USD 500 mn

Edtech main Byju’s on Wednesday stated 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”, an announcement stated.
The acquisition will assist Byju’s increase its footprint within the US by offering entry to the greater than two million academics and 50 million children in Epic’s present international user-base, which has greater than doubled during the last yr, 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 partaking and interactive studying and studying experiences for kids 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, stated.
The alignment of missions and shared ardour makes Byju’s the proper associate, as Epic is assured that this acquisition will ignite pleasure for studying all over the world, Markosian, co-founder of Epic, stated.

“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 growth, and the acquisition with Epic is not going to solely result in important investments in expertise that can assist to additional personalised studying for college kids but in addition allow Byju’s to turn into a pure a part of America’s studying tradition, the assertion stated.