New Delhi, July 26 (SocialNews.XYZ) BYJUS has acquired professional and higher educational startup, Great Learning for $600 million.
The partnership marks BYJU'S' entry into the professional and higher education segment with a $1 billion commitment.
The move combines BYJU'S leadership in education technology and content with Great Learning's expertise in upskilling for students and professionals
Great Learning will continue to operate under its current leadership led by its founders, Mohan Lakhamraju, Hari Nair and Arjun Nair.
Byju's, the world's leading edtech company, with 100 million registered students on its flagship learning app today acquired Singapore headquartered Great Learning, a leading global player in the professional and higher education segment in a transaction valued at USD 600 million comprising cash, stock and earnout.
It has earmarked a further $400 million of investment into this segment towards accelerating Great Learning's growth. The acquisition marks BYJU'S strong push into the professional upskilling and life-long learning space globally with a total commitment of $1 billion, expanding its offerings beyond the K12 and test prep segments, and further accelerating the company's growth plans.
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.
Great Learning will continue to operate as an independent unit under the BYJU'S group under the leadership of its Founder and CEO, Mohan Lakhamraju and co-founders, Hari Nair and Arjun Nair. With this substantial investment, Great Learning will accelerate its organic and inorganic growth in India and across global markets and expand its high-quality, transformational offerings to learners everywhere.
Byju Raveendran, Founder, and CEO, BYJU'S said, "Empowering learners with the right futuristic skills forms a fundamental part of our vision. Great Learning is a globally recognized and reputed professional education company and this partnership expands our reach into this new segment. We are united in our mission to provide professionals with high-quality and industry-relevant learning programs in this competitive global economy. With our combined strength, we aim to become a global market leader in this segment."
Mohan Lakhamraju, Founder and CEO of Great Learning, said "At Great Learning, we have been working towards our mission of making high-quality, transformational education accessible to learners everywhere. Together with BYJU'S, we will be able to accelerate our progress towards this goal and meet the growing need for upskilling both in India and around the world. Further, as higher education moves online, we will leverage our joint strengths in technology, content, pedagogy and instructors to create unparalleled learning opportunities at affordable prices for everyone."
Source: IANS
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