Future of learning is hybrid: CEO Byju
Edtech platform BYJU’S on Monday entered into a strategic partnership with test preparatory services firm Aakash Educational Services Limited (AESL) to acquire the latter for approximately $1 billion.
The company declined to reveal details about the valuation and other financial details. Private equity major Blackstone-backed AESL currently runs 215 test centres that prepare students for medical and engineering entrance exams, school/board exams, Kishore Vaigyanik Protsahan Yojna (KVPY), National Talent Search Examination (NTSE), Olympiads, and other foundation level exams, BYJU’S said in a statement.
“The future of learning is hybrid and this union [with Aakash] will bring together the best of offline and online learning,” Byju Raveendran, founder, and CEO, BYJU’S said. “The pandemic has brought the importance of the blended format of learning to the forefront,” he added.
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Byju s acquires Aakash Educational Services Edtech decacorn Byju’s has closed the deal to acquire exam preparation firm Aakash Educational Services Limited (AESL) for nearly $1 billion. The stock-and-cash deal is the biggest in the education space, said sources. Byju’s said the deal is a strategic partnership with AESL, a leader in test-prep services.
Byju s to acquire Aakash Educational Services in nearly $ 1 billion deal
IANS
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BYJU S will acquire Aakash Educational Services Limited (AESL) through a strategic merger. The deal size is pegged at close to $1 billion, according to a person familiar with the transaction.
This partnership brings together two of the largest and most-trusted education brands in India - combining Aakash s pedagogy expertise in the test-prep segment with BYJU S content and tech capabilities. After the integration, BYJU S will make further investments to accelerate Aakash s growth.
Amit Dixit, Co-Head of Asia Acquisitions and Head of India Private Equity at Blackstone, said: We invested in AESL because it is one of the leading education brands in India with a professional management team, best-in-class corporate governance and a 33-year track-record of exceptional results. We have always believed omni-channel will be the winning model in test prep and tutoring, and we look forward to being