Edtech Startup Byju's Set to Acquire Aakash Educational Services for $1bn
Byju's is at it again.
The edtech giant is reportedly all set to acquire coaching centre chain Aakash Educational Services for $1bn.
The deal, which could close in the next two or three months, would be one of the largest in the edtech space. And it would combine Byju’s digital prowess with the brick and mortar presence of Aakash, allowing the former to scale up considerably.
The Byju’s-Aakash deal also signals a promising start to 2021 for Indian edtech. The sector had a stellar 2020 as over 320 million students were forced to adapt to online education since schools and colleges were shut for the better part of the year.
Investors have been paying attention. VC firms pumped in $1.8bn into Indian edtech startups through 2020 across 60 deals, propelling edtech to become the most-funded sector in 2020.
But will the boom last? Or is Indian edtech a bubble waiting to burst?
Click link for a deep-dive: https://transfin.in/edtech-startup-byjus-set-to-acquire-aakash-educational-services-for-1bn
