UpGrad to acquire Unacademy in all-stock ₹2,055cr deal asks CCI
Business
UpGrad is set to acquire Unacademy in an all-stock deal worth ₹2,055 crore ($218 million), a huge 90% drop from Unacademy's peak value in 2021.
Both companies have now asked for the green light from India's Competition Commission (CCI), and if all goes well, the merger should wrap up by June or July.
Unacademy to hold ₹900-950cr reserves
After merging, Unacademy will have around ₹900 to ₹950 crore in cash reserves.
This move comes as edtech valuations are falling and signals a big step toward industry consolidation, especially with major backers like SoftBank and Peak XV Partners involved.