Byju s to acquire Aakash Educational Services for $1 billion: Report
The deal, one of the largest ed-tech acquisitions in the world, will be closed in the next two to three months.
Byju s Founder Byju Ravindran.
Byju s, India s biggest online education startup, is on its way to acquire Aakash Educational Servies Pvt Ltd for $1 billion, reported Bloomberg on January 12.
Backed by Blackstone Group, Aakash Educational Services runs Aakash Institute, the well-known chain of coaching centres that train students for engineering and medical entrance exams.
According to the report, the deal, one of the largest edtech acquisitions in the world, will be closed in the next two to three months. Aakash s founders, the Chaudhry family will exit completely, while Blackstone will swap a portion of its 37.5 percent equity in Aakash for Byju’s stake.