Accenture to invest $1 billion in learning platform LearnVantage; to acquire EdTech co Udacity

The terms of the transaction were not disclosed by Accenture

Information technology (IT) firm Accenture on March 6 launched its LearnVantage platform, with plans to invest $1 billion over three years to reskill and upskill people in technology, data, and artificial intelligence (AI). The company also announced the acquisition of education technology company Udacity.

"The new service is designed to help leaders across industries and governments quickly identify gaps in relevant skills being created by advances in technologies and then provide the industry-specific training needed to fill those gaps at speed and scale," the company said in a release.

LearnVantage will deliver personalised learning for technical and business users, from specialised AI and data science, cloud and cyber security training for IT professionals to generative AI training for board and C-suite members and business leaders.

Udacity’s team of more than 230 professionals will join Accenture LearnVantage, which provides Accenture’s clients with comprehensive technology learning and training services.

The terms of the Udacity transaction were not disclosed by Accenture.

Udacity has over 1,400 experts and a vast library of content co-created with industry leaders, with presence in more than 21 million registered learners in 195 countries.

“The rise of generative AI represents one of the most transformative changes in how work gets done and is driving a growing need for enterprises to train and upskill people in cloud, data and AI as they build their digital core and reinvent their enterprises,” Kishore Durg, global lead of Accenture LearnVantage, was quoted as saying in the release.