UpGrad in talks to acquire Unacademy at valuation of $300-400 mn: Reports
As per the possible deal, Unacademy’s language-learning app, AirLearn, could be carved out into a separate company
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Edtech major UpGrad is in advanced discussions to acquire rival Unacademy in a deal that could value the testprep platform at $300–400 million (?2,800–3,500 crore), according to a media report that cites people familiar with the talks.
A term sheet is expected to be signed within the next three weeks, media reports said.
The proposed valuation marks a sharp drop from Unacademy’s $3.44 billion peak valuation in 2021, underscoring the sharp correction in India’s edtech sector following the pandemic-era boom.
As part of the potential deal, Unacademy’s language-learning app, AirLearn, will be carved out into a separate company, it has been reported.
A report further said that UpGrad will not hold any equity in AirLearn after the transaction.
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