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Byju's acquires Toppr, skilling platform Great Learning

Byju's acquires Toppr, skilling platform Great Learning

Byju's allotted preference shares worth over Rs 730 crore to existing shareholders of Great Learning, while it allotted shares worth over Rs 425 crore to shareholders of Toppr.

Byju's acquired Toppr and Great Learning in deals consisting of cash and equity shares. Byju's acquired Toppr and Great Learning in deals consisting of cash and equity shares.

Online education platform Byju's has acquired Toppr, which provides online courses for school students, and Great Learning, an ed-tech company for professionals and higher education.

Byju's acquired both the companies in deals consisting of cash and equity shares, Entrackr reported citing the company's regulatory filings.

Byju's allotted preference shares worth over Rs 730 crore to existing shareholders of Great Learning, while it allotted shares worth over Rs 425 crore to seven shareholders of Toppr, the portal reported.

Byju's also raised Rs 424 crore from Prosus' subsidiary MIH Edtech Investment and Maitri Edtech Special OP Fund to fund the acquisition of the two companies.

Also Read: Byju's expands footprints across US; buys reading platform Epic for $500 million

While Great Learning offers various programmes in data science, artificial intelligence, machine learning, cloud computing, among others, Toppr offers online courses for school students.

Byju's has been on an acquisition spree for some time now. It has acquired Aakash Educational Services, WhiteHat Jr and Osmo. Earlier this week, the company announced acquisition of California-based reading platform Epic for $500 million (about Rs 3,729.8 crore), thereby expanding its footprints across the US market.

It was the second acquisition by the Bengaluru-based startup in the US market after it bought Osmo, an award-winning playful learning platform, for $120 million in January 2019.