Upgrad buys online higher education start-up Impartus for ₹150 cr
PTI
Mumbai |
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Impartus to be rebranded as upGrad Campus; to add ₹85 crore to Upgrad’s revenue run-rate in FY22
Online re-skilling firm UpGrad on Monday announced the acquisition of Impartus, a leading video-enabled learning solutions provider, for ₹150 crore.
The deal is expected to help strengthen the Ronnie Screwvala-founded company’s foothold in college education.
Post acquisition, Impartus will be rebranded as upGrad Campus, and will boost its revenue run-rate by an additional ₹85 crore, the company said in a statement.
With the acquisition, upGrad, which predominantly focuses on working professionals, will now be able to strengthen its presence among higher education institutions and learners, which is a ₹56,000-crore market, Screwvala, the co-founder and chairman of upGrad, said.