BYJU'S to acquire Aakash Educational Services in $1B deal
BYJU'S, the world's leading ed-tech company has announced its strategic partnership with Aakash Educational Services Limited (AESL). According to sources, the deal is worth close to USD 1 billion (about 7,300 crores) -- making it the biggest acquisition by Byju's to date.
Founder and CEO Byju Raveendran said the union will bring together the best of offline and online learning. "I am happy to have Aakash Educational Services Limited (AESL), a market leader and the most trusted name in the test prep services, onboard with us. Our complementary strengths will enable us to build capabilities, create engaging and personalized learning programs. The future of learning is hybrid and this union will bring together the best of offline and online learning, as we combine our expertise to create impactful experiences for students,” he said.
"The pandemic has brought the importance of the blended format of learning to the forefront. As we unite our forces to bring together decades of expertise and experience, this partnership will further accelerate Aakash’s growth and success," Byju Raveendran further said.
Aakash Chaudhry, AESL Managing Director said the company is looking to transform student experiences by steering innovative and digitally-enabled learning solutions. He said that AESL is excited to partner with BYJU's.
"Together with BYJU’S, we will work towards building an omni-channel learning offering that will accelerate test-prep experience to the next level. While this partnership will enhance our operational verticals, Aakash will continue to operate as a separate entity with the same passion and commitment with which it’s Founder & Chairman Mr. J C Chaudhry incepted it. We are excited to partner with BYJU’S, and will strive to deliver long-term value to our students, employees, investors, and other stakeholders,” Chaudhry said.
"The addition of Aakash is a significant step towards strengthening BYJU’S product offering. It reiterates the company’s focus on creating impactful learning products for students by adding more verticals, subjects, and languages to the same platform," he added.
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