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Byju's acquires Indian tutor Aakash for nearly $1 billion – TechCrunch


Byju’s acquires Indian tutor Aakash for nearly $1 billion
Why did Byju’s raise over $1 billion last year and is already inching closer to securing another half a billion dollars? We are getting some answers today.
Byju’s said on Monday it has acquired Aakash Educational Services, a 33-year-old chain of physical coaching centres, as the Indian online learning giant looks to further consolidate its leadership position in the world’s second largest internet market and accelerate its offline growth.
The Indian startup, which is currently valued at $13 billion, paid “close to $1 billion” in cash and equity for the acquisition (about $600 million in cash and rest in stock), which is one of the largest in the edtech space, three people familiar with the matter told TechCrunch. (EY advised the firms on the transaction; Bloomberg first reported about the two firms talking in January.) ....

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Byju's to acquire Aakash Educational Services in nearly $ 1 billion deal


Byju s to acquire Aakash Educational Services in nearly $ 1 billion deal
IANS
 0
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 ....

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