Announced
Financials
Sources
Tags
India
Acquisition
Friendly
Single Bidder
Domestic
Education Services
Private
test preparatory services
Majority
Pending
Private Equity
Synopsis
Byju’s, India’s edtech startup, agreed to acquire Aakash Educational Services, a test preparatory services provider, from Blackstone for $1bn. The consideration reportedly involves $600m in cash and the rest in stock. “As 12 months of the pandemic have shown, there’s a clear need to disrupt education by combining offline with online, which has low single-digit penetration. The future of learning is hybrid, and bringing students to a nearby offline center provides rigor, intensity and human touch,” he said via a Zoom call to announce the acquisition," Byju Raveendran, Byju's Founder and Chief Executive Officer.
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