Business
upGrad to buy edtech rival Talentedge for nearly Rs 400 Cr
Edtech major upGrad on Monday announced it has acquired India’s fourth largest edtech firm Talentedge. The acquisition is valued somewhere between Rs 350-Rs 400 crore, news agency IANS reported quoting sources. The Gurugram-based company 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. The edtech platform recreates classroom-type interactions in the virtual world and has over 5,00,000 individuals and corporate learners.
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 chief executive Aditya Malik said: “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.”
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. UpGrad has grown exponentially on the back of multiple acquisition in the last one year. The company acquired The GATE Academy (November, 2020), Rekrut India (December, 2020), KnowledgeHut (August, 2021), Impartus (May, 2021), and Global Study Partners (GSP), the largest study abroad company in Australia (November, 2021).
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Last month, the company announced the merger of its three subsidiaries — upGrad Campus (originally Impartus), upGrad Jeet (originally The GATE Academy) and upGrad KnowledgeHut). upGrad aims to achieve 7.5 million registered users by CY 2024 by partnering with over 1298 universities, 3,110 corporates and expanding its network of faculty, mentors and experts to 11,078. At present, upGrad has over 300 university partnerships with over 2 million registered users across 50 countries.
