Global online higher education provider upGrad announced that it has acquired global EdTech company KnowledgeHut. This comes within weeks of upGrad earmarking $250 million for Mergers & Acquisitions to drive non-linear growth for the next seven to nine months.
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Founded by Subramanyam Reddy in 2011, KnowledgeHut is aimed at equipping the global workforce with the skills of the future through outcome-based immersive learning. As a leading skills solutions provider, KnowledgeHut has trained over 250,000 professionals and empowered over 500 enterprises to build the skills that drive results, with a product offering of over 200 courses across in-demand areas of Web Development, Machine Learning / AI and Data Science, Agile and Project Management, IT Service Management, Cyber Security and Cloud Computing.
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“With KnowledgeHut on board, our focus on being an integrated Lifelong Learning partner for powering career success for the 1 billion members of the global workforce just got stronger. KnowledgeHut’s presence in 70+ countries will further upGrad’s ambition of liberalizing quality online education around the world,” said upGrad Chairperson & Co-Founder Ronnie Screwvala.
This acquisition is propelling upGrad’s venture into the short duration upskilling and reskilling segment which has a market potential of over $58 billion. To leverage this market opportunity, the combined will allow KnowledgeHut to upskill and help students drive meaningful career outcomes, through its next-gen flagship learning experience platform, PRISM.
Post-acquisition, KnowledgeHut will operate as a wholly-owned subsidiary of upGrad. KnowledgeHut Founder & Director Subramanyam Reddy will be at the helm in his new role as the CEO.
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“With our focus on short-term professional upskilling, KnowledgeHut is driving outcome-based immersive learning for global technologists and the wider professional community. Given our position in global markets, this synergy with upGrad will further strengthen and support that vision. The acquisition paves the way for upGrad to empower B2B customer segments across geographies including the United States and the Asia Pacific,” said upGrad’s KnowledgeHut CEO Subramanyam Reddy.
With this acquisition, upGrad will have access to KnowledgeHut’s global student pool of 250,000. KnowledgeHut is expected to cross $40 million in revenue next year, 65% of which will be from countries across North America, Middle East and South-East Asia.
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