Veranda Learning Solutions, owned by Kalapathy AGS, has acquired Edureka, a live-trainer-led online solution provider for the IT industry, for Rs 245 crore (33 USD 33M).
According to a press statement, the company plans to spend about $ 100 million on the acquisition over the next six months “to take advantage of the opportunities opened up in the Adtech space”. This is the company’s second purchase of Veranda Learning Solutions since the 100 percent acquisition was launched in December 2020.
Founded in 2011 by Loveleen Bhatia, Kapil Tyagi and Vineet Chaturvedi, Edureka is known as a pioneer for live online class-based upskilling programs for working professionals. Edureka partners with leading international universities such as IITs, NITs and Purdue with its own library of training resources to provide training in cloud computing, DEVOPS, AI-ML, data science, web development, cybersecurity and other emerging technologies. .
The live online classes model, led by Edureka’s instructor, features the best-in-class full rates, student satisfaction, and career transitions. Adureka’s training content is very popular with online learners and is used more than 1.1 million times per month on her blog, Q&A community and YouTube channel. About 44 percent of the total student population is international students spread across 85 countries.
The company currently has more than 1 million subscriber learners who are trained by a pool of more than 500 strong coaches with a bouquet of more than 300 courses. Edureka is on a mission to enable transformative learning and career success in the digital economy for professionals and students around the world.
Speaking of editing, Executive Chairman, Veranda Learning Solutions, Suresh Kalapati Said,
“Veranda is in active discussion with several acquisition objectives that will create a multi-modal platform expanding test preparation, upskilling and supplementary learning. With the current acquisition, we look forward to expanding into Europe and North American markets as well. And paves the way for us to become part of it again to meet the growing demand for high-quality skills in the country. “
Veranda is the first comprehensive 360-degree online learning platform in India. It is creating a unique online platform that will combine the best technologies, processes and methods to deliver high-quality content. While the startup focuses on educational outcomes for its students, Veranda adopts a multi-modal delivery system supported by a rigorous and disciplined learning framework.
Veranda bought Chennai Race’s online business, a training institute for banking, SSC and PSC exams, in late FY2020 and started Veranda Race. The company has launched programs under the Veranda CA and Veranda IAS for CA and IAS aspirants this quarter, respectively.
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