upGrad to acquire higher education platform Talentedge for over Rs 300 cr
This deal, once completed, could be one of the largest consolidations in the Indian higher education space.
- Dec 6, 2021,
- Updated Dec 6, 2021 1:01 PM IST
The consolidation in the online education space in India is continuing with edtech unicorn upGrad all set to acquire Talentedge, a platform for higher education. The deal is pegged to be worth over Rs 300 - 400 crore.
This deal, once completed, could be one of the largest consolidations in the Indian higher education space. Talentedge is slated to have a revenue of over Rs 130 Crore this year and double its revenue in the coming year..
The acquisition comes on the heels of the edtech decacorn Byju's having acquired at least a dozen niche companies and its closest rival, Unacademy also betting big on acquisitions, backed by a robust demand in the sector.
Gurgaon-based Talentedge offers more than 60 courses in partnership with more than 20 universities. It has partnered with top Indian & international institutes, including IIMs, XLRI, MICA, eCornell, and UCLA, among others, and has more than 5,00,000 individual and corporate learners.
"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," said Ronnie Screwvala, Chairperson and Co-Founder, upGrad.
Aditya Malik, CEO & MD, Talentedge pointed out that this deal with upGrad would give them access to best-in-class products and solutions, and cutting edge technology.
“It is a win-win for learners and employers as a consolidated positioning enables us to serve them better. Talentedge will continue to work as is with its university & institute partners to deliver the quality education to its learners across degree & certification programs,” Malik added.
Also Read: Nokia 9 PureView will not get Android 11 but its users can upgrade to Nokia XR20 at half price
The consolidation in the online education space in India is continuing with edtech unicorn upGrad all set to acquire Talentedge, a platform for higher education. The deal is pegged to be worth over Rs 300 - 400 crore.
This deal, once completed, could be one of the largest consolidations in the Indian higher education space. Talentedge is slated to have a revenue of over Rs 130 Crore this year and double its revenue in the coming year..
The acquisition comes on the heels of the edtech decacorn Byju's having acquired at least a dozen niche companies and its closest rival, Unacademy also betting big on acquisitions, backed by a robust demand in the sector.
Gurgaon-based Talentedge offers more than 60 courses in partnership with more than 20 universities. It has partnered with top Indian & international institutes, including IIMs, XLRI, MICA, eCornell, and UCLA, among others, and has more than 5,00,000 individual and corporate learners.
"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," said Ronnie Screwvala, Chairperson and Co-Founder, upGrad.
Aditya Malik, CEO & MD, Talentedge pointed out that this deal with upGrad would give them access to best-in-class products and solutions, and cutting edge technology.
“It is a win-win for learners and employers as a consolidated positioning enables us to serve them better. Talentedge will continue to work as is with its university & institute partners to deliver the quality education to its learners across degree & certification programs,” Malik added.
Also Read: Nokia 9 PureView will not get Android 11 but its users can upgrade to Nokia XR20 at half price