Digital education platform upGrad has acquires video-learning solutions provider, Impartus, for Rs. 150 crores, in cash and stocks. This acquisition will enable a fruitful exit to Kaizen, which is Impartus’ existing investor. The company had earlier invested $4.1 million in upGrad back in 2015.
Almost ₹50 crores of the proceeds from the deal will be used as a further investment to scale the Impartus platform this fiscal year. Post the acquisition, Impartus will be rebranded as upGrad Campus, which will focus on providing learning tools to colleges and other higher education institutions, while Impartus co-founder Amit Mahensaria as chief executive of upGrad Campus.
upGrad presently focuses on courses for working professionals, with this acquisition, it plans to tap into a younger user base through Impartus’ video-based learning platform. The acquisition will also provide upGrad access to 280 higher educational institutions and 600,000 students and in the country. The company now plans to add at least 50,000 new students through the acquisition this year, while upGrad Campus aims to clock Rs. 85 crores revenue by end 2022.
Categories: Corporate M&A