In what can be one of the larger consolidations in the Indian Higher education space, upGrad – one of Asia’s largest upskilling platforms will soon acquire one of India’s largest online education platforms — Talentedge.
The deal could be valued between Rs 300 to Rs 400 crore. Talentedge is slated to do revenue of over Rs 130 crore this year and double its revenue in the coming year. Sources say the deal value is at 3-4 times this year’s revenue.
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Gurgaon-based Talentedge offers more than 60 courses in partnership with 20+ universities. Talentedge partners with top Indian and international institutes including IIMs, XLRI, MICA, eCornell, UCLA extension among others, and has more than 5,00,000 individual and corporate learners.
“upGrad has cemented its leadership position as the most integrated player in higher education in Asia, serving learners and working professionals across the age group of 18-50 years. Talentedge has meticulously built a strong business over the last decade and stayed the course in this space where most did not survive and we are very pleased to welcome them at upGrad as we build one of the largest EdTech companies in the world,” said Ronnie Screwvala, Chairperson and Co-Founder, upGrad.
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“Coming together with upGrad enables us to access their best-in-class products and solutions, technology, and their data-driven pedagogical approach. It’s a win-win for learners and employers as a consolidated positioning enables us to serve them better. Talentedge will continue to work as-is with its University & Institute partners to deliver quality education to its learners across degree and certification programs,” said Aditya Malik, CEO & MD, Talentedge.
Gaurav Kumar, President – Corporate Development and M&A, upGrad said, “upGrad’s M&A strategy is to identify companies who share the vision to build a world-class learning organization at scale and we find the Talentedge team as perfect partners. We are in the active stage of closing a few more large acquisitions in India as well internationally which will be announced in the next one to two quarters.”
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