The biggest deal in the Edtech area! Byju’s bought Aakash Education Services for about $1 billion

The biggest deal so far in the Edtech sector, the most valuable online education firm in the country Byju’s has bought Blackstone Group’s Aakash Education Services at approximately $1 billion by cash and stock deal (about $ 600 million in cash and in the rest of the stock).

Byju's Aakash Education

In 2015, Snapdeal bought Freecharge for $400 million, and in 2014, Flipkart bought Myntra for $330 million. 

And Byju’s has done the biggest deal than these two deals with AESL (Aakash Education Services) which is the biggest deal in Indian startups.

Byju’s has now made its debut in the offline segment through AESL. 

Jesse Chowdhury and Akash Chowdhury, founders of Blackstone Group and AESL, will be Byju’s minority shareholders after the deal. However, AESL will continue to operate independently.

In the online education medium, it is not possible to teach face-to-face by inviting students to class. 

Byju’s can now overcome this limit with the help of AESL. Non-test prep category students could be offered offline coaching, analysts said.

Also, Byju’s subscribers, especially students in class 9-10, can apply for AESL’s Core entrance exam courses.

In a statement, Byju said that Akash currently has more than 215 Test Prep Centers available and after the merger, “Byju’s will make further investments in AESL to accelerate its development”.

Byju is currently trying to enter the international market. Byju is on the way to launch its services in the US, UK, Brazil, Indonesia and Mexico.

Some of the biggest deals in India in 2020: 

Infosys and Kaleidoscope Innovation:

In September, Indian global software company Infosys acquired Kaleidoscope Innovation a US-based product design firm for $42 million.

Infosys has taken this step to expand its engineering service offerings in the medical equipment, consumer and industrial markets across the United States.

Reliance Industries and Future Group:

Reliance Retail Ventures Ltd.(RRVL), a subsidiary of Mukesh Ambani’s Reliance Industries Ltd (RIL) company acquired the Future Group’s Retail and Wholesale Business Logistics and Warehouses for 24,713 crores.

Ola and Etergo BV:

On 27th May, Ola Electric Mobility Pvt Ltd has acquired electric scooter manufacturer Etergo BV.

Following the deal, Ola will now enter the electric bike market and it is expected that their scooter will launch in the market soon.   

ITC and Sunrise Foods:

On 23rd May, ITC Limited bought 100% equity share capital of Sunrise Foods Pvt Ltd (SFPL).

The company is mainly involved in the spice business under the trademark ‘Sunrise’.

Zomato and Uber Eats:

On 21st January, Online Food Delivery and Restaurant Discovery Platform Zomato purchased the Food Delivery Business of Uber Eats for about $350 million (Rs 2,485 crores).

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