Talentedge's owner takes stake in upGrad at $2 bn value after integration

by IANS |

Mumbai, April 7 (IANS) Edtech major upGrad on Thursday said it has integrated all of Talentedge's business, which will operate under its own name, as its owner Sekhsaria Family Office took a stake in upGrad at $2 billion value.

upGrad in December last year announced to acquire Gurugram-based edtech rival Talentedge reportedly for Rs 350-400 crore.

Talentedge was valued at Rs 205 crore and the near 100 per cent share swap transaction was done at an upGrad value of $2 billion.

In the coming financial year, Talentedge is likely to cross a gross revenue of Rs 150 crore, said the company.

"Talentedge integrated inside upGrad will be a formidable combination that will be very value accretive for both," said Narayanan V who leads private investments at Sekhsaria Family Office, owner of Talentedge.

Talentedge has partnerships with leading universities for degree programmes, and also for working professionals.

"The coming together of Talentedge with upGrad cements our leadership position in India's lifelong learning market and we see great synergies, cost savings and our ability to scale and consolidate," said Mayank Kumar, co-founder and MD, upGrad.

Started in 2015, upGrad has a learner base of over two million across more than 100 countries, along with over 300 university partners.

It has offices in the UK, the US, the Middle East, India, Singapore and Vietnam, with presence in many more countries.

Latest News
Sensex crosses 74K mark in 1000 points rally Thu, Mar 28, 2024, 03:42 PM
Man stabbed to death during fight over drinking water Thu, Mar 28, 2024, 03:41 PM
Actor Mukesh, BJP candidate Ashwini file nominations in Kerala Thu, Mar 28, 2024, 03:22 PM
Gillespie resigns from his role as South Australia, Adelaide strikers' head coach Thu, Mar 28, 2024, 03:15 PM
'No scope for individuality in party', Karnataka DyCM Shivakumar warns warring leaders Thu, Mar 28, 2024, 03:10 PM
Ukrainian FM arrives in India to build on talks between PM Modi, Volodymyr Zelenskyy Thu, Mar 28, 2024, 03:02 PM
Political conspiracy, claims Kejriwal while being taken to Rouse Avenue Court Thu, Mar 28, 2024, 02:47 PM
NXP Semiconductors unveils industry-first platform for software-defined vehicles Thu, Mar 28, 2024, 02:41 PM
CM Vijayan & CPI(M) tread cautiously after ED case against Veena Vijayan Thu, Mar 28, 2024, 02:37 PM
IPL 2024: 'They opened for Australia...', says Ganguly on DC's opting for Warner, Marsh as opening pair vs PBKS Thu, Mar 28, 2024, 02:28 PM
India's trade policy is calibrated with economic growth path: Piyush Goyal Thu, Mar 28, 2024, 02:17 PM
Holi brings cheer to UP excise dept as sales soar Thu, Mar 28, 2024, 02:11 PM
Punjab CM Bhagwant Mann blessed with baby girl Thu, Mar 28, 2024, 02:10 PM
New AI tool can predict fatal heart rhythm with 80 pc accuracy Thu, Mar 28, 2024, 12:41 PM
IPL 2024: 'Perplexed, beyond my understanding', Smith, Pathan slam Hardik's tactics of using Bumrah vs SRH Thu, Mar 28, 2024, 12:27 PM