Veranda Learning Solutions, part of the Kalpathi AGS Group, has acquired Edureka, a live-instructor-led learning and training platform for the IT industry, for Rs 245 crore. The price paid as consideration has not been revealed.
In a statement, Veranda said it plans to spend roughly $100 million on acquisitions over the next six months to “take advantage of the opportunities emerging in the edtech area.”
“Veranda is in active discussion with multiple targets for acquisition to create a multi-modal platform that spans test prep, upskilling and supplemental education. With the current acquisition we are poised to expand our footprint in Europe and the North American markets as well,” Kalpathi Suresh, executive chairman, Veranda Learning Solutions, said.
Edureka is the company’s second buyout since its start in December 2020. Veranda has bought Chennai Race Coaching Institute, a banker’s, SSC, and PSC exam prep institution.
Edureka joins with top Indian institutes like IITs, NITs, and renowned international universities like Purdue to offer training in cloud computing, DevOps, AI/ML, data science, web development, cybersecurity and other emerging technologies in addition to its library of training resources.
It currently has over one lakh students enrolled who are instructed by a team of over 500 instructors who offer over 300 different courses.