Higher education unicorn on Monday announced that it has entered into an exclusive agreement to acquire (i.e., Arrina Education Services, the Holding Company of Talentedge Education Ventures Private Limited).
Sources say the deal value is at 3-4X this year’s revenue of Talentedge.
It is expected to be one of the larger consolidations in the Indian Higher education space. Talentedge is slated to do revenue of over Rs 130 crore this year and double its revenue in the coming year.
Gurugram-based Talentedge offers more than 60 courses in partnership with over 20 universities, according to a statement.
This acquisition marks the first step in the massive consolidation that is currently occurring through big-ticket acquisitions led by upGrad.
“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.
Last week, Ronnie Screwvala-led upGrad Education entered into an exclusive acquisition agreement with Global Study Partners (GSP), Australia’s largest study abroad company.
According to the press statement, upGrad will invest $16 million to buy 100 percent of GSP and commit a further $ 10 million for future growth.
“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 the quality education to its learners across Degree & Certification programs,” said Aditya Malik, CEO and 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.”