Edtech firm upGrad has acquired a 100 per cent stake in Bharti Enterprises group training solutions firm Centum Learning in a share swap deal.
With this transaction, Bharti Enterprises Limited and its affiliates are joining upGrad’s cap table, upGrad said in a statement. Without disclosing financial details of the acquisition, upGrad said Centum is expected to clock a revenue of Rs 170 crore in the financial year 2023. “Enterprise workforce upskilling is a supercritical need; however, the sector remains highly fragmented. upGrad has always seen enterprise upskilling as a strategic growth driver,” upGrad said.
Headquartered in New Delhi, Centum has over 2000 employees and currently offers training to corporates as well as vocational, and educational training to schools and college learners to make them either self-employed or meaningfully employed. “Both upGrad and Centum are committed to driving outcomes for their learners and therefore, I am excited about combining the two synergies for creating a scalable portfolio for continued results,” Centum Learning Managing Director and CEO Sanjay Bahl said.
