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BYJU S to acquire Aakash Educational Services in $1B deal
BYJU S, the world s leading ed-tech company has announced its strategic partnership with Aakash Educational Services Limited (AESL). According to sources, the deal is worth close to USD 1 billion (about 7,300 crores) making it the biggest acquisition by Byju s to date.Â
Founder and CEO Byju Raveendran said the union will bring together the best of offline and online learning. I am happy to have Aakash Educational Services Limited (AESL), a market leader and the most trusted name in the test prep services, onboard with us. Our complementary strengths will enable us to build capabilities, create engaging and personalized learning programs. The future of learning is hybrid and this union will bring together the best of offline and online learning, as we combine our expertise to create impactful experiences for students,â he said.Â
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BYJU S to acquire Aakash Educational Services for Rs 7,300 crore
Leading edtech company BYJU S is reportedly acquiring Delhi-based offline test preparatory services provider Aakash Educational Services for $ one billion (nearly Rs 7,300 crore), the media reported. The deal may close in the next two-three months, reports Bloomberg.
An email sent to BYJU S on Wednesday did not elicit any response.
BYJU S last year acquired Mumbai-based live online coding provider WhiteHat Jr for roughly Rs 2,246 crore.
In September, barely a month later, the edtech platform raised $500 million (approximately Rs 3,689 crore) in a new funding round led by global technology investment firm Silver Lake.