On Monday, December 6, upGrad, a leading online higher education provider, announced the acquisition of Gurugram-based edtech rival Talentedge. The acquisition is estimated to be worth between Rs 350 and Rs 400 crore, according to reputable sources. Talentedge, the fourth largest online education provider, expects to generate over Rs 130 crore in revenue this year and hopes to treble that in the future year.
Talentedge, situated in Gurugram, offers more than 60 courses in collaboration with more than 20 colleges, including IIMs, XLRI, MICA, eCornell, and UCLA, and has over 5,00,000 individual and corporate learners.
Talentedge is anticipated to generate over Rs 130 crore in income this year and more than double that the next year. The agreement is worth 3-4 times this year’s revenue, according to sources.
UpGrad boasts over 2 million students from 50 countries and over 300 university partners. It has a clientele of 1000 companies all around the world.
The business is on a buying spree. Global Study Partner, based in Australia, was acquired for $16 million last week.
“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.