Edtech Unicorn upGrad to acquire Gurugram-based Talentedge
Edtech unicorn upGrad has announced that it is set to acquire Gurugram-based Talentedge, which is India’s fourth-largest online higher education company, for around Rs 350-400 crore.
The edtech unicorn has entered into an exclusive agreement to acquire Arrina Education Services, the holding company of Talentedge Education Ventures Private Limited). As per the sources, the deal value is at 3-4X of Talentedge’s revenue this year.
Speaking on the development, Ronnie Screwvala, Chairperson and Co-Founder of upGrad, said,
“upGrad has cemented its leadership position as the most integrated player in higher education in Asia, serving learners and working professionals across the age group of 18-50 years. Talentedge has meticulously built a strong business over the last decade and stayed the course in this space where most did not survive, and we are very pleased to welcome them at upGrad as we build one of the largest EdTech companies in the world.”
Talentedge | Enabling Working Professionals To Fast Track Their Careers
Gurugram-based Talentedge enables working professionals to plan their future course of action and fast track their careers. The edtech startup offers over 70+ certificate and degree courses in partnership with 30+ academic institutions.
Talentedge is expected to do revenue of over Rs 130 crore this year and double its revenue in the coming year, added Ronnie Screwvala.
The acquisition deal is expected to be one of the larger consolidations in the Indian Higher education space.
Last week, Ronnie Screwvala-led upGrad entered into an exclusive acquisition agreement with Australia’s largest study abroad company, Global Study Partners (GSP). As per upGrad, the acquisition of GSP will enhance its foray into the ‘study abroad’ segment, which the company claims to be one of the fastest-growing segments worldwide.
Recently, Ronnie Screwvala also invested in India’s first online-only school, 21K School.
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