India’s largest online education startup, Byjus, is set to acquire the medical test prep leader, Aakash Educational Services Ltd (AESL), for $1 Billion in the upcoming months. This acquisition will be one of the largest in the Ed-Tech sector.
Byju’s has been on a fundraising spree since the pandemic driven demand for online education skyrocketed. It is adding over 5 Mn users every month and has an estimated revenue of $1 Mn for FY 21. AESL, backed by the Blackstone group, will pave Byju’s path into the test-prep market.
This deal would bring about a change in the educational sector as it will unlock a blend of the pros of online and offline models.
The high-tech and tried and tested platform of Byju’s combined with the skilled faculty of Aakash Institutes will prepare a model of hybrid learning where students would be able to learn through online medium as well as seek offline guidance from its brick and mortar presence, as and when required.