Hotline: 1800 102 2007
Hotline: 1800 102 2007
Jan, 15 2021

Byju’s to buy Akash Educational Services for $1 billion

This would be one of the most successful franchise company’s acquisitions by an edtech firm.

By Features Writer
Byju’s to buy Akash Educational Services for $1 billion

Byju’s, India’s biggest online-education startup, has signed an agreement to acquire Aakash Educational Services Ltd., a brick & mortar test prep leader, for $1 billion.

This agreement would be one of the largest edtech acquisitions in the world and should close in the next two or three months. Also, this would be one of the most successful franchise company’s acquisitions by an edtech firm.

India’s second-most valuable startup Byju’s is valued at $12 billion. It has been on a fund-raising spree as the pandemic has sent a demand for its online lessons soaring. The Bangalore-headquartered company 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.

Aakash Educational Services runs the Aakash Institute, which has more than 200 brick and mortar centers. The Blackstone Group-backed firm’s student count is over 250,000, according to its website.

As part of the deal with Byju’s, Aakash’s Founders, the Chaudhry family, will be exiting completely, while Blackstone will swap a portion of its 37.5% equity in Aakash for Byju’s stake.

sharebtn
Comment
user
email
mobile
address
star
Related opportunities
  • Others Food Service
    W e s t a r t e d o..
    Locations looking for expansion Delhi
    Establishment year 2009
    Franchising Launch Date 2021
    Investment size Rs. 2lac - 5lac
    Space required 650
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Ice Creams & Yogurt Parlors
    Natural Ice creams made using Fresh Milk & Seasonal Fruits..
    Locations looking for expansion Haryana
    Establishment year 2019
    Franchising Launch Date 2019
    Investment size Rs. 10lac - 20lac
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Gurgaon Haryana
  • Organic Products
    Lumiere is one of the pioneers in organic agriculture, retail..
    Locations looking for expansion Haryana
    Establishment year 2012
    Franchising Launch Date 2021
    Investment size Rs. 20lac - 30lac
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Faridabad Haryana
  • Healthcare & Medical Products
    ·        Incorporated in the year 2020, Midos Laborat..
    Locations looking for expansion Delhi
    Establishment year 2017
    Franchising Launch Date 2017
    Investment size Rs. 10000 - 50000
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type -NA-
    Headquater Delhi Delhi
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities