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upGrad to acquire edtech rival Talentedge for nearly Rs 400 Cr
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SME Times News Bureau | 06 Dec, 2021
Leading online higher education company upGrad on Monday announced it
has acquired Gurugram-based edtech rival Talentedge. According to
reliable sources, the acquisition is valued somewhere between Rs 350-Rs
400 crore.
Talentedge, which is currently the fourth largest
online education player, is expected to reach a revenue of over Rs 130
crore this year, and aims to double its revenue in the coming year.
"Talentedge
has meticulously built a strong business over the last decade and
stayed the course in this space where most did not survive and we are
very pleased to welcome them at upGrad as we build one of the largest
EdTech companies in the world," said Ronnie Screwvala, Chairperson and
Co-Founder, upGrad.
Talentedge offers more than 60 courses in partnership with more than 20 universities.
It
has partnered top Indian and international institutes including IIMs,
XLRI, MICA, eCornell and UCLA extension, among others, and has more than
5,00,000 individual and corporate learners.
"Talentedge will
continue to work as is with its university and institute partners to
deliver the quality education to its learners across degree and
certification programmes," said Aditya Malik, CEO and MD, Talentedge.
Started
in 2015, upGrad has a learner base of over two million across 50
countries and over 300 university partners, with an enterprise business
with a client base of 1,000 companies worldwide.
The company has offices in the UK, the US, Middle East, India, Singapore and Vietnam, with presence in several other countries.
Talentedge recreates classroom-type interactions in the virtual world and has over 5,00,000 individuals and corporate learners.
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