Ed-tech startup upGrad has agreed to acquire Talentedge to strengthen its position in the higher online education space in the country. The deal size is expected to be Rs 400-500 crore.
“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 of upGrad.
Talentedge, situated in Gurgaon, offers more than 60 courses in collaboration with more than 20 universities across the world, including IIMs, XLRI, MICA, eCornell, and UCLA Extension. The platform is home to more than 5,00,000 individual and corporate learners. This year, the business hopes to earn Rs 130 crore in sales.
“Coming together with upGrad enables us to access their products and solutions, technology, and their data-driven pedagogical approach. It’s a win-win for learners and employers as a consolidated positioning enables us to serve them better. Talentedge will continue to work as-is with its university and institute partners to deliver quality education to its learners across degree and certification programmes,” said Aditya Malik, CEO and MD, Talentedge.
Last month, upGrad announced purchasing Global Study Partners (GSP), a study-abroad company in Australia for AUD 16 million, with a commitment of an additional AUD 10 million in the future.
Upgrade joined the unicorn club earlier this year, after obtaining $185 million in funding from Temasek, IFC, and IIFL for a $1.2 billion value. To win the race and compete with similar platforms like Unacademy and Byju’s, it is concentrating on delivering everything accessible for learners above K12.