ATLANTA--(BUSINESS WIRE)--upGrad, Asia’s largest online higher education company has entered into an exclusive agreement to acquire Talentedge (i.e., Arrina Education Services, the Holding Company of Talentedge Education Ventures Private Limited), one of India's largest online higher education companies. This would be one of the larger consolidations in the Indian Higher education space. Talentedge is slated to do revenue of over USD 17 Million this year and double its revenue in the coming year. Sources say the deal value is at 3-4X this year’s revenue.
This acquisition marks the first step in the massive consolidation that is currently occurring through big-ticket acquisitions led by upGrad. upGrad which is currently the number 1 player in this space is acquiring Talentedge, which is currently the number 4 player in the sector.
"upGrad has cemented its leadership position as the most integrated player in higher education in Asia, serving learners and working professionals across the age group of 18-50 years. Talentedge has meticulously built a strong business over the last decade and stayed the course in this space where most did not survive and we are very pleased to welcome them at upGrad as we build one of the largest EdTech companies in the world," said Ronnie Screwvala, Chairperson and Co-Founder, upGrad.
"Coming together with upGrad enables us to access their best-in-class products and solutions, technology, and their data-driven pedagogical approach. It's a win-win for learners and employers as a consolidated positioning enables us to serve them better. Talentedge will continue to work as is with its University & Institute partners to deliver quality education to its learners across Degree & Certification programs," said Aditya Malik, CEO & MD, Talentedge.
As a means to catapult upGrad’s global position and strategic play to create an integrated Higher EdTech company that is in the value chain of college learners and working professionals globally, this acquisition will allow upGrad access to Talentedge’s network of International institutes including eCornell, UCLA extension, among others. The Gurgaon-based company also offers over 60 courses in partnership with over 20 universities. They partner with top Indian & International entities and have more than 5,00,000 individual and corporate learners.
Gaurav Kumar, President - Corporate Development and M&A, upGrad said, "upGrad’s M&A strategy is to identify companies who share the vision to build a world-class learning organization at scale and we find the Talentedge team as perfect partners. We are in the active stage of closing a few more large acquisitions in India as well internationally which will be announced in the next one to two quarters."
Aligned with the global trends, the overall Indian EdTech sector is poised for consolidation, with known decacorns focused on M&A deals in the K-12 space, whereas the leading Higher Edtech players are consolidating the segment by acquiring their nearest competitors. In the US, MIT’s not-for-profit online platform edX was acquired by a listed educational technology company 2U, and other giants listing on the bourses. India’s EdTech sector, fixated on an established global presence, is aggressively expanding and increasing its TAM (Total Addressable Market) by venturing into and setting up shops in markets across the US, UK, South Asia, and the Middle East.
Visit the website to learn more about the company: https://www.upgrad.com/us/?utm_source=PR&%3Butm_campaign=IND_BRD_WEB_PR_BWI_ALL_ALL_upGradacquiresTalente
upGrad - started in 2015 is a pioneer in the online education revolution, focused on powering career success for a global workforce of over 1.3 billion. It is one of the few Integrated LifeLongLearning Tech Companies in the world - spanning the college learner to the working professional from the age group of 18-50 years and across Undergrad courses, Campus & Job Linked Programs, Studying Abroad, short form to executive programs to Degrees, Masters and Doctoral - with a learner base of over 2 million across 50 countries and over 300 University partners & a robust enterprise business with a client base of 1000 companies worldwide.
upGrad’s Global Learning Engine rests on four pillars - (a) its large repository of original & owned content and IP, (b) its own best-in-class proprietary tech platform, (c) its high touch human led delivery service backed by coaches & mentors, and (d) an 85% course completion track record, backed by a further 80% career outcomes guaranteed performance.
Already termed Asia’s higher EdTech leader it has offices in the UK, US, Middle East, India, Singapore & Vietnam, and presence in many more countries.
The first to bring ‘Live & Interactive’ anywhere learning in digital format, Talentedge is an Ed-Tech firm that is changing the way India learns. With a stated brand purpose of "letting no ambition go unfulfilled”, Talentedge helps professionals to fulfil their dreams and aspirations across India. Offering courses jointly with leading institutes such as IIMs, XLRI, MICA, eCornell, UCLA amongst others, Talentedge enables working professionals to plan their future course of action and fast track their careers through new-age learning that fulfils their career aspirations. Talentedge recreates classroom-type interactions in the virtual world and has already struck a chord with over 500,000 individuals and corporate learners. To know more visit www.talentedge.com