Economy News

Byju’s on finalising deal to acquire rival Toppr

According to latest reports, Edtech unicorn Byju’s is in advanced talks to acquire smaller rival Toppr for $150-160 million.

Both Byju’s and Toppr operate in the K-12 (Kindergarten to Class 12) learning space.

However, Edtech firms Byju’s and Unacademy upscaled their growth last year as schools closed due to the coronavirus pandemic and students took to online classes.

Further, both edtech companies have been on an acquisition spree after raising multiple rounds of funding last year.

Byju’s which is currently valued at $12 billion, acquired WhiteHat Jr, an online coding school for young children, for $300 million last August.

Moreover, it raised more than $1.25 billion in 2020.

In fact, Byju’s had previously planned on acquiring Aakash educational services at a whopping price of $1 billion back in January.

With the Toppr acquisition, Byju’s aims to strengthen its focus in the K-12 space.

At this stage, Byju’s is eyeing both international expansion and strategic inorganic growth respectively.

Unacademy, which turned unicorn last year and is valued at around $2 billion, acquired multiple start-ups in recent months.

It is to be believed that India’s edtech sector is poised to reach $12 billion by 2025 on the back of continued investor interest.

This will result in rising urbanization and internet users among other factors.

As a matter of fact, the scope and horizon of online education has grown by leaps and bounds due to the world wide pandemic.

Students under lockdown have resorted to this medium of education which has doubled and tripled growth of these companies in past 3 months.


Check all the recent news updates and share market updates


 

Get 90% Discount on Brokerage Now! Open Demat Account