Big Deal: Byju bought Akash Education for 7300 crores

The country’s most valuable education-technology startup Bayju has acquired Aakash Education Services Limited (AESL) for $ 1 billion (about Rs 7,300 crore).

Following the deal, the founders of the Blackstone Group and Aakash will become shareholders in the $ 13 billion valuation Baiju. It is the largest acquisition of Biju and one of the world’s largest deals in the education-technology sector.

This is the largest integration in the field of education in India, and especially in the startup sector, said AESL MD Akash Choudhary. After this, Baiju will invest further to accelerate the growth of Akash.

At the same time, Byju Ravindran, the founder and CEO of Byju said, there will be an emphasis on learning in a hybrid way in the future. This partnership will offer the best way to learn offline and online.

$ 2 billion raised from investors
Byju has so far raised $ 2 billion from investors such as Mary Meeker, Yuri Milner, Tencent, Sequoia Capital, Tiger Global and others. According to sources, he is in talks to raise an additional $ 60–7 million.

Prior to Akash, he bought coding training company Whitehat Jr. last year for $ 300 million. TwitterVista and Ezurite were acquired in 2017 and Osmo in 2019.