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Edtech Giants UpGrad and Unacademy in Merger Talks
15 Mar
Summary
- UpGrad and Unacademy are in talks for a potential acquisition.
- The deal is structured as an all-stock transaction between the two companies.
- The term sheet for the acquisition was signed recently.
Indian edtech startup upGrad has entered into negotiations to acquire its competitor, Unacademy. A term sheet has been signed by both companies, outlining the preliminary agreement for this potential merger.
The proposed transaction is structured as an all-stock deal. This indicates that shares of upGrad would be exchanged for shares of Unacademy, rather than a cash payment.
This development signals a potential consolidation within India's rapidly growing online education industry, with significant implications for market dynamics and competition.
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