Online education sector big company BYJU’S to acquire Akash Educational Services, deals worth Rs 7,300 crore

Byju’s, a major online education sector company, will now acquire Akash Educational Services, the premier education company. The deal is expected to be finalized for $ 1 billion (about Rs 7,300 crore). According to the news, it will take two-three months to complete this deal. Byjus raised about Rs 3,689 crore from global technology investment company Silver Lake in September last year. By then the market value of Byzus was $ 10.8 billion (Rs 80,000 crore). 

In fact, during the Corona crisis, people were unable to go out of their homes, in such a way, online education has added a large number of students. While the functioning of Akash Educational Services was affected by Corona. 

It is known that Aakash Educational is known as a big name in preparing for school board and medical and engineering competitive examinations. While EduTech’s investors include General Atlantic, Tiger Global and Owl Ventures. 

Byjus’ income had increased to Rs 2,800 crore in FY 2019-20. When Corona was at its peak, in September 2020, according to the company, it has more than 6.4 crore students with its app, while talking on an annual basis, the number of paid subscribers of the app is 4.2 million. 

In the recent few years, if online education has expanded rapidly around the world, online education has also increased in India. It is estimated that by next year, its size in India alone will be worth $ 3.5 billion.