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Allen Institute held talks to acquire Unacademy valuing edtech firm at $800 million in a cut-price deal: sources

Economic TimesEconomic Times · 1d
Allen Institute held talks to acquire Unacademy valuing edtech firm at $800 million in a cut-price deal: sources

Indian edtech platform Unacademy is in talks with offline test preparation center Allen Career Institute for a potential sale that could value Unacademy at $800 million. The discussions, which have been ongoing for several months, hinge on approval from Allen's promoters, the Maheshwari family. This potential merger would be a significant consolidation move in the edtech sector, which has been hit by a slowdown in demand for online learning, as well as the aftermath of Byju's bankruptcy and allegations of financial irregularities. If the deal goes through, Unacademy's founders are expected to exit the company.

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It'sMeMoksha
It'sMeMoksha

Hope this doesn't work out

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19 hours ago

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