Byju’s acquires Aakash Educational Services through a strategic merger

Bangalore-headquartered Byju’s raised over $1.25 billion in 2020 and was valued at $12 billion

Staff Writer
Updated5 Apr 2021, 02:27 PM IST
Byju’s founder Byju Raveendran.
Byju’s founder Byju Raveendran.(MINT_PRINT)

India’s biggest online-education startup Byju’s on Monday said that it has acquired brick & mortar test prep leader Aakash Educational Services Ltd through a strategic merger. Bjyu's added that it will make further investments to accelerate Aakash’s growth.

Post-acquisition, Aakash Educational Services will continue to function independently under the leadership of Founder JC Chaudhry and Aakash Chaudhry.

Byju Raveendran, Founder, and CEO, BYJU’S said, “I am happy to have Aakash Educational Services Limited (AESL), a market leader and the most trusted name in the test prep services, on board with us. Our complementary strengths will enable us to build capabilities, create engaging and personalised learning programs. The future of learning is hybrid and this union will bring together the best of offline and online learning, as we combine our expertise to create impactful experiences for students.”

Blackstone Group-backed Aakash Educational Services runs Aakash Institute, which has over 200 brick and mortar centers and tutors students to gain entry into the country’s elite engineering and medical schools.

Bangalore-headquartered Byju’s raised over $1.25 billion in 2020 and was valued at $12 billion after it raised around $200 million last November from BlackRock and T Rowe Price. India’s second-most valuable startup is backed by the likes of Facebook founder Mark Zuckerberg’s Chan Zuckerberg Initiative, Tiger Global Management and Bond Capital, co-founded by Silicon Valley investor Mary Meeker.

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First Published:5 Apr 2021, 02:27 PM IST
HomeCompaniesNewsByju’s acquires Aakash Educational Services through a strategic merger

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