Mumbai, Dec 6 (IANS): Leading online higher education company upGrad on Monday announced it has acquired Gurugram-based edtech rival Talentedge. According to reliable sources, the acquisition is valued somewhere between Rs 350-Rs 400 crore.
Talentedge, which is currently the fourth largest online education player, is expected to reach a revenue of over Rs 130 crore this year, and aims to double its revenue in the coming year.
"Talentedge has meticulously built a strong business over the last decade and stayed the course in this space where most did not survive and we are very pleased to welcome them at upGrad as we build one of the largest EdTech companies in the world," said Ronnie Screwvala, Chairperson and Co-Founder, upGrad.
Talentedge offers more than 60 courses in partnership with more than 20 universities.
It has partnered top Indian and international institutes including IIMs, XLRI, MICA, eCornell and UCLA extension, among others, and has more than 5,00,000 individual and corporate learners.
"Talentedge will continue to work as is with its university and institute partners to deliver the quality education to its learners across degree and certification programmes," said Aditya Malik, CEO and MD, Talentedge.
Started in 2015, upGrad has a learner base of over two million across 50 countries and over 300 university partners, with an enterprise business with a client base of 1,000 companies worldwide.
The company has offices in the UK, the US, Middle East, India, Singapore and Vietnam, with presence in several other countries.
Talentedge recreates classroom-type interactions in the virtual world and has over 5,00,000 individuals and corporate learners.