Go Ad-Free
    My Alerts
    Moneycontrol
    Moneycontrol PRO
    HomeNewsBusinessStartupEd-tech firm upGrad to acquire Talentedge for Rs 400-500 crore

    Ed-tech firm upGrad to acquire Talentedge for Rs 400-500 crore

    Ed-tech firm upGrad in closing more big-ticket acquisitions in India as well as abroad that will be announced over the next one to two quarters

    Priyanka Sahay
    December 06, 2021 / 12:02 IST
    Ed-tech firms upGrad has entered into an exclusive agreement to acquire Talentedge in what would mark a consolidation in the higher online education space in the country. The deal size is pegged at 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.Gurgaon-based Talentedge offers more than 60 courses in partnership with over 20 universities such as IIMs, XLRI, MICA, eCornell and UCLA extension from across the globe. It also claims to have more than 5,00,000 individual and corporate learners. The company is expected to report a revenue of over Rs 130 crore this year.

    “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 the quality education to its learners across degree and certification programmes,” said Aditya Malik, CEO and MD, Talentedge.

    Last month, upGrad announced that it was buying out Global Study Partners (GSP), the largest study-abroad company in Australia, for AUD 16 million, with a commitment of a further AUD 10 million in future.The ed-tech firm is also in the active stage of closing a few more large acquisitions in India as well as abroad that will be announced over the next one to two quarters. The company entered the unicorn club earlier this year after a funding of $185 million from Temasek, IFC and IIFL, at a valuation of $1.2 billion. It is focusing on higher education which is everything above K12. It competes with companies like Unacademy and Byju’s.
    Invite your friends and family to sign up for MC Tech 3, our daily newsletter that breaks down the biggest tech and startup stories of the day

    Priyanka Sahay
    Priyanka Sahay
    first published: Dec 6, 2021 11:59 am

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347