NEW DELHI: Edtech major
Byju
's on Monday announced the acquisition of Singapore-headquartered
Great Learning
in a transaction valued at $600 million, comprising cash, stock and earnout.
The company has also earmarked an additional $400 million of investment in the professional and higher education segment to accelerate Great Learning's growth, a statement said.
"The acquisition marks BYJU'S strong push into the professional upskilling and life-long learning space globally with a total commitment of $1 billion, expanding its offerings beyond the
K12
and test prep segments, and further accelerating the company's growth plans," it added.
Great Learning will continue to operate as an independent unit under Byju's group under the leadership of its founder and CEO
Mohan Lakhamraju
and co-founders,
Hari Nair and Arjun Nair.