Byju’s unit acquires Singapore edtech firm in $100m deal

Great Learning, a unit of Indian edtech major Byju’s, has acquired Singapore-based executive education firm Northwest Executive Education in an estimated US$100 million stock and cash deal, the Economic Times reported, citing sources familiar with the matter.

Northwest offers management and tech programs from global universities for online learners. The platform, following the acquisition, will continue to operate independently, with co-founders Mohit Jain, Tamhant Jain, and Maitreyi Singhvi at the helm.

Since being acquired by Byju’s for US$600 million last year, professional education platform Great Learning has expanded its operations and now caters to four million learners in more than 170 countries. Byju’s at the time of the acquisition said it set aside US$400 million in investment into the professional skilling and lifelong learning segment.

Ahead of its initial public offering, Byju’s valuation hit US$22 billion after it raised US$800 million in a funding round in March. Founder Byju Raveendran invested half this amount to increase his stake in Byju’s. Sumeru Venture, Vitruvian Partners, and BlackRock also participated in the round.

See also: The key players in Southeast Asia’s growing edtech scene