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Emeritus, a global company that makes high-quality education accessible and affordable to individuals, companies and governments worldwide, announced a definitive agreement to acquire Silicon Valley-based iD Tech, for $200 million. iD Tech focuses on youth STEM education.
The acquisition, which is being made through Emeritus’ parent company Eruditus, marks Emeritus’ expansion into K12 STEM education. The company grows to prepare individuals of all ages to succeed in the workforce and positions Emeritus as one of the largest and fastest-growing skilling platforms. iD Tech will operate independently, maintaining its team of instructors and employees.
Emeritus and iD Tech’s distinct, yet highly complementary, offerings will be scaled to support a global audience with improved learning experiences. STEM career opportunities are projected to grow exponentially, with an estimated3.5 million jobs in the US alone that need to be filled by 2025. With offerings from both companies in coding, math, game development, robotics and more, Emeritus and iD Tech are positioned to make STEM learning more accessible, paving the way for brighter futures in STEM occupations,
“Emeritus is in the business of teaching the skills of the future like AR/VR, artificial intelligence, cybersecurity, software engineering, design thinking and leadership to professionals,” said Ashwin Damera, co-founder and CEO, pointing to the company’s more than 200 short courses, online degree programs, boot camps and CXO programs offered in collaboration with more than 50 of the world’s top universities. “We believe that proficiency and mastery of these skills should begin in K12, and that iD Tech will be instrumental as we jointly pursue our goal of closing STEM skills gaps globally. Their long-term learning system is a perfect complement to what we offer adult learners and will allow us to create a formidable life-long learning ecosystem” he said.
Founded in 2015, Emeritus, part of Eruditus Learning Solutions, has more than 1,000 employees globally and offices in Mumbai, New Delhi, Shanghai, Singapore, Palo Alto, Mexico City, New York, Boston, London, and Dubai. The company has raised over $160 million in capital and is backed by the Chan Zuckerberg Initiative, Sequoia India, Leeds Illuminate, and Prosus Ventures.
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