upGrad is set to purchase Talentedge, India’s fourth-largest online higher education firm, for Rs 350 to 400 crore. upGrad has agreed with Arrina Education Services, the parent company of Talentedge Education Ventures to buy the firm.
“We are market leaders in the higher education sector in India. Currently, we are twice as much as the next player, but we want to grow the gap to 4X before we branch out.” Ronnie Screwvala, the co-founder of upGrad, said. “Talentedge has built a strong business in the last decade and stayed the biggest player in this space, and we are very satisfied to welcome them at upGrad as we both want to build one of the largest edtech firms in the world,” Screwvala added.
Talentedge CEO Aditya Malik said, “We will continue to work with our university and institute partners to deliver the best quality education to the learners in degree and certification programmes.” Last month, upGrad acquired upGrad Campus, i.e. Impartus, upGrad Jeet, i.e.The Gate Academy, and upGrad KnowledgeHut to combine and create one parent company. “It was always a plan to be a multicultural company. The M&A sector is now open for some sense of consolidation. For us, the foundation for M&A is something that matches very much an integral part of us the next day it comes,” Screwvala stated.