Wednesday, August 17, 2022

upGrad to acquire Talentedge for between Rs 400 and 500 crore

HomeNewsupGrad to acquire Talentedge for between Rs 400 and 500 crore

upGrad has signed into an exclusive deal to buy Talentedge, a move that would consolidate the country’s higher online education market. The transaction is estimated to be worth between Rs 400 and 500 crore.

“Talentedge has painstakingly created a solid company over the past decade and persevered in a field where others failed, and we are delighted to welcome them to upGrad as we construct one of the world’s biggest EdTech firms,” said Ronnie Screwvala, upGrad’s Chairman and Co-Founder.

Talentedge, situated in Gurgaon, provides over 60 courses in collaboration with over 20 institutions worldwide, including IIMs, XLRI, MICA, eCornell, and UCLA extension. Additionally, it claims to have over 5,000 corporate and individual learners. This year, the firm is likely to earn more than Rs 130 crore in sales.

“By partnering with upGrad, we have access to products and solutions, as well as their data-driven educational approach. It’s a win-win situation for students and employers alike, as our unified positioning allows us to better serve them. Talentedge will continue to collaborate with its university and institution partners to provide high-quality education to its students across degree and certificate programs,” stated Aditya Malik, Talentedge’s CEO and Managing Director.

UpGrad announced this month that it will acquire Global Study Partners (GSP), Australia’s biggest study-abroad firm, for AUD 16 million, with an additional AUD 10 million in future commitments.

Additionally, the ed-tech business is in the process of completing a couple other big acquisitions in India and internationally, which will be revealed over the coming one to two quarters.

The firm becameĀ unicornĀ earlier this year after a $185 million fundraising round led by Temasek, IFC, and IIFL, valued at $1.2 billion. It is concentrating on higher education, which is defined as everything above K12. It is in direct competition with firms such as Unacademy and Byju’s but currently upGrad is targeting for a different set of audience.

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