NEW DELHI: Edtech major Byju's on Monday announced the acquisition of Singapore-headquartered Great Learning in a transaction valued at USD 600 million, comprising cash, stock and earnout.
The company has also earmarked an additional USD 400 million of investment in the professional and higher education segment to accelerate Great Learning's growth, a statement said.
"The acquisition marks BYJU'S strong push into the professional upskilling and life-long learning space globally with a total commitment of USD 1 billion, expanding its offerings beyond the K12 and test prep segments, and further accelerating the company's growth plans," it added.
Great Learning will continue to operate as an independent unit under Byju's group under the leadership of its founder and CEO Mohan Lakhamraju and co-founders, Hari Nair and Arjun Nair.