upGrad to acquire Unacademy for $245 million
Business
Edtech giant upGrad is set to acquire Unacademy in an all-stock deal worth ₹2,055 crore (about $245 million).
This marks a huge drop for Unacademy, whose value has fallen more than 90% since its 2021 peak.
For every Unacademy share, shareholders will get 0.12 shares of upGrad.
The deal is expected to close in the next few months
The deal should wrap up in the next two to three months, pending regulatory approvals.
For students and learners, this means upGrad will soon combine its strengths with Unacademy's resources, including Airlearn, which is expected to remain within the combined entity.
The move aims to boost upGrad's offerings while helping both companies navigate the tough edtech market together.