According to a report published in Bloomberg, online education portal Byju’s is all set to acquire Aakash Educational Services Pvt. Ltd. for $1 billion. As per reports, this deal will be one of the largest edtech acquisitions in the world, which will be closed in the next two to three months.
Edutech Startup Byju's To Buy Aakash Educational Services In $1 Billion Mega Deal
— ABP News (@ABPNews) January 12, 2021
Looking into the details of this deal reveals that Aakash Educational Services Pvt. Ltd. founder, the Chaudhary family will no longer be the part and Blackstone will sweep away a portion of its 37.5 percent equity in Aakash for Byju’s stake. The official statement from both the firms are still awaited.