Edtech main Byju’s on Wednesday mentioned it has acquired Epic, a digital studying platform for teenagers, for USD 500 million (about Rs 3,729.8 crore).
The corporate will make investments an extra USD 1 billion in North America to speed up its imaginative and prescient of “serving to college students fall in love with studying”, a press release mentioned.
The acquisition will assist Byju’s increase its footprint within the US by offering entry to the greater than two million lecturers and 50 million children in Epic’s current world user-base, which has greater than doubled during the last yr, it added.
Epic CEO Suren Markosian and co-founder Kevin Donahue will stay of their roles, it added.
“Our partnership with Epic will allow us to create participating and interactive studying and studying experiences for kids globally.
“Our mission is to gas curiosity and make college students fall in love with studying. Figuring out that Epic and its merchandise are rooted in the identical mission, it was a pure match. Collectively, now we have the chance to create impactful experiences for kids to develop into lifelong learners,” Byju Raveendran, founder and CEO of Byju’s, mentioned.
The alignment of missions and shared ardour makes Byju’s the right companion, as Epic is assured that this acquisition will ignite pleasure for studying around the globe, Markosian, co-founder of Epic, mentioned.
“Collectively, we might help empower future generations of youngsters by fostering a lifetime love for studying and studying,” Markosian added.
Byju’s has aggressive plans for worldwide and US market enlargement, and the acquisition with Epic won’t solely result in vital investments in know-how that may assist to additional personalised studying for college kids but additionally allow Byju’s to develop into a pure a part of America’s studying tradition, the assertion mentioned.