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Read the complete story here: https://www.thelallantop.com/bherant/byjus-acquires-famous-jee-neet-coaching-institute-aakash/
Indian edtech startup Byju’s confirmed on Monday that it has acquired Aakash Educational Service Limited (AESL) in a deal valued at nearly $1 billion. Byju’s, which is India’s most valued edtech startup, has acquired Blackstone-backed AESL for over $900 million in a cash and stock deal. The acquisition will help Byju’s expanded its presence in the test prep segment and also in advancing its physical presence. It is one of the most expensive deals in India’s edtech space, according to two people who spoke to livemint.com. Byju Raveendran, the co-founder of Byju’s, said that the deal was closed over a timeline of six to seven months. It may be noted that Aakash Educational Services will function independently after the acquisition, and it will be led by founders JC Chaudhry and Aakash Chaudhry. Watch the video to know more.
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