In the second-biggest deal by the company, Byju’s acquired the US-based kids’ digital reading platform Epic for $500million. The plans to expand the ed-tech major of India are finally taking wings.
Byju’s is the biggest name in the Indian ed-tech market. It had acquired Aakash Educational Services for $1billion recently. Aakash Educational Services is an Indian test prep provider.
By the acquisition of Epic, Byju’s plan to borrow the ground Epic has in the US as well as global market. This user base will provide a better prospect in establishing their business overseas. Epic has a rich user base and is reported to have almost 2 million teachers and 50 million kids on its platform.
Byju’s do not have any plans to change the executive board of Epic for now. Epic and Byju’s almost follow the same strategy by focusing on the kids of K-12. Byju’s CEO Byju Raveendran commented that the partnership will allow them to provide a more interesting learning experience for children in that age group all over the world.
It has also made significant investments worth $1 billion in North America. The recent acquisition will help them to speed up the company’s US expansion as well as international expansion. The company also said in a statement that the company will soon become “a natural part of America’s learning culture”.