For Edtech unicorn BYJU’S there is no stopping now, as the company adds a fresh chapter to its series of acquisitions. On July 25, the Bengaluru-based start-up announced the acquisition of after-school learning app Toppr and upskilling platform Great Learning in a cash and stock deal, according to regulatory filings filed by the company.
Both the acquisition involved a mix of cash and equity. The shareholders of Toppr and Great Learning have traded their shares with BYJU’S Series F shares.
BYJU’S is expected to pay $600 million to acquire Great Learning and $150 million for the acquisition of Toppr, according to a Mint report.
It is planning to accelerate the growth and business of Great Learning by investing an additional $400 million in the professional and higher education segment.
According to the company statement, Great Learning will continue to operate as an independent unit under BYJU’S under the leadership of Mohan Lakhamraju, CEO and co-founders, Hari Nair and Arjun Nair.
“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,” the company statement said.
BYJU’S has been on an acquisition spree for some time now. The company recently expanded its footprints across the US market with the acquisition of California-based reading platform Epic for $500 million.
In 2017, India’s most-valued startup acquired TutorVista from Pearson. US-based Osmo, a maker of educational games for children aged 3–8 years was acquired in 2019 for $120 million. It acquired virtual labs simulation startup LabInApp in 2020.
BYJU’S also acquired Indian startup WhiteHat Jr for $300 million in 2020 and Mumbai-based doubt clearing platform Scholr in 2021.
In April 2021, it acquired test prep firm Aakash Educational Services Ltd. in an estimated $950 million cash and stock deal.
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