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Miguel Cordon · · 1 min readSources: Byju’s to spend up to $400m to shop for 2 more Indian edtech startups
“After raising US$1 billion just weeks ago and completing the acquisition of Aakash Educational Services, [Byju’s] is now in late-stage talks to acquire two new companies,” Entrackr reported, citing three people familiar with the matter.
Details:
- The two firms are upskilling platform Great Learning and exam preparation company Gradeup, one of the sources shared. Both deals are expected to be closed by next month.
- Byju’s is expected to set aside around US$330 million to US$350 million to acquire Great Learning, and spend US$40 million to US$50 million for Gradeup, according to another source.
Context:
- It was reported earlier today that Byju’s is looking to raise about US$150 million from Swiss banking titan UBS Group at a US$16.5 billion valuation.
- The Indian edtech giant was also said to be eyeing international markets through Byju’s Future School, a one-to-one learning platform set to be launched in the US, UK, Australia, Brazil, Mexico, and Indonesia.
Editing by Collin Furtado and Eileen C. Ang
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