Byjuâs buys medical, engineering entrance coaching leader Aakash in mega deal
Byjuâs buys medical, engineering entrance coaching leader Aakash in mega deal
Aakash has more than 215 test prep centers, which coach 250,000 high-schoolers and prepare them for the ultra-competitive engineering and medical entrance tests in India.
Saritha Rai 5 April, 2021 4:18 pm IST Text Size:
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Bengaluru: Byjuâs, Indiaâs dominant edtech startup, is acquiring offline test prep leader Aakash Educational Services to accelerate offline growth, it said in a statement on Monday.
The deal is valued at about $1 billion, said people familiar with the details, asking not to be identified. Indiaâs online edtech leader will combine forces with the three-decade-old, Blackstone Group Inc.-backed Aakash in a deal that involves about $600 million in cash and the remainder in stock, according to the people.