Simplilearn is an ed-tech startup based in India. Recently, a US-based private equity major, Blackstone has decided to acquire the majority of the stakes in Simplilearn. The amount involved is calculated to be US$250million.
The investment will mark the official entrance of the private firm into Asia and the firm confirmed that it will be one of the first among similar investments they wish to make in the coming years. The investment from Blackstone has overturned the previous investors but the management team of Simplilearn will continue.
Simplilearn, as previously mentioned, is an ed-tech startup founded in 2010. It offers many courses to learners in the field of cloud, data science, AI, machine learning, and others. It provides these courses in collaboration with universities around the world thereby giving the learners a wider academic exposure. It helps companies to improve the skills of their workforce.
The participating universities and enterprises include Massachusetts Institute of Technology’s Schwarzman College of Computing, the University of Massachusetts Amherst, Jagdish Sheth School of Management, IBM, Microsoft, Amazon, Facebook, and KPMG.
Online learning became popular and in high demand fuelled by the pandemic. India’s e-learning sector is expected to grow tremendously in the next 10 years.
Simplilearn’s CEO Kumar acknowledged Blackstone’s ability in adding significant value to their startup and the acquisition will also help them to expand their business all over the world.