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Byju s to Acquire Testprep Firm Aakash Educational Services for $1 Billion: Report
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Edu-tech major Byju s has signed a deal with test preparation company Aakash Educational Services Ltd for $1 billion, according to reports.
The deal, termed as one of the largest edu-tech acquisition in the world, will likely be closed in the next two or three months, as per Bloomberg reports.
Byju s is valued at $12 billion and has raised significant capital amid growing demand for online learning amid the covid-19 pandemic. The Bengaluru-based startup is backed by Facebook founder Mark Zuckerberg s Chan Zuckerberg Initiative, Tiger Global Management and Bond Capital, co-founded by Silicon Valley investor Mary Meeker.