Edtech main Byju’s on Wednesday stated it has acquired Epic, a digital studying platform for kids, for $500 million (about Rs 3,729.8 crore).
The firm will make investments an extra USD 1 billion in North America to speed up its imaginative and prescient of “helping students love learning”, a press release stated.
The acquisition will assist Byju’s broaden its footprint within the US by offering entry to Epic’s present world user-base of greater than two million lecturers and 50 million youngsters, which has greater than doubled over the previous 12 months.
Epic CEO Suren Marcosian and co-founder Kevin Donahue will proceed of their roles.
“Our partnership with Epic will allow us to create partaking and interactive studying and studying experiences for kids globally.
“Our mission is to foster curiosity and make college students love studying. Knowing that Epic and its merchandise are rooted in the identical mission, it was a pure match. Together, we had the imaginative and prescient for kids to turn out to be lifelong learners. Byju Raveendran, Founder and CEO, Byju’s stated.
Epic co-founder Marcosian stated the alignment of missions and shared ardour make Byju’s an excellent associate, as Epic is assured this acquisition will ignite enthusiasm for studying world wide.
“Together, we can help empower future generations of children by fostering a life-long love for reading and learning,” Marcosian stated.
Byju’s has aggressive plans for worldwide and US market enlargement, and the acquisition with Epic won’t solely end in a big funding in expertise that may allow personalised studying for college kids but in addition allow Byju’s to turn out to be a pure a part of America’s studying tradition Will do stated.
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With inputs from TheIndianEXPRESS
