Edtech major Byju’s has officially announced the acquisition of upskilling platform Great Learning. The deal value for this acquisition was $600 million including a mix of cash, stock, and earnout. The company has also earmarked another $400 million of investment into the upskilling segment to accelerate Great Learning’s growth.

The acquisition marks Byju’s entry into the professional upskilling space globally with a total commitment of $1 billion. The upskilling courses have been witnessing a huge spike in customer adoption since the Covid-19 outbreak.

Byju Raveendran, founder, and CEO of Byju’s, said, “Empowering learners with the right futuristic skills forms a fundamental part of our vision. This partnership expands our reach into this new segment.”

Founded in 2013, Great learning claims to have worked with 1.5 million students, over 2800 industry mentors, and more than 500 corporate partners. The courses on the platform are offered in partnership with colleges like Stanford University, Massachusetts Institute of Technology (MIT), Northwestern University, IIT Madras, IIT Roorkee, and others.

Commenting on the acquisition, Lakhamraju, CEO of Great Learning, said, “with Byju’s, we will leverage our joint strengths in technology, content, pedagogy, and instructors to create learning opportunities at affordable prices for everyone.”

Also read: Byju’s buys Toppr, Great Learning

Great Learning will continue to operate as an independent entity under Byju’s group, with co-founders Mohan Lakhamraju, Hari Nair, and Arjun Nair retaining their job roles. Byju’s investment will help Great Learning accelerate its growth in both India and global markets.

Launched in 2015, Byju’s claims to have a network of about 100 million students, 6.5 million annual paid subscriptions, and an annual renewal rate of 86 per cent. In just six months during the lockdown, Byju’s has added 45 million new students to its platform.

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