In the latest update, the education tech giant BYJU’S has decided to acquire Aakash Educational Services Limited (AESL) via a strategic merger.
BYJU’S and Aakash Institutes Integrate For Growth
As per the reports so far, the deal has been striked at nearly $1 billion. This partnership will bring the top and the most trusted brands across India together. With the BYJU’S content and technical capabilities and Aakash’s test preparation segment, the aim is to further accelerate the growth of both companies.
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Co Head of Asia Acquisitions and Head of India Private Equity at Blackstone, Amit Dixit said that the decision to invest in Aakash Educational Services Limited comes from its track record. He said that it is one of the leading educational brands in India with a professional management team, best corporate governance and has a maintained record of exceptional results from the past 33 years.
He further said that they strongly believe in omni-channel and in the creation of a model that excels in both tutoring and test preparations. He said that he and his team is excited to be a part of this venture and creating India’s largest education company with the combination of BYJU’S and Aakash.
Aakash Institutes Is Optimistic Towards BYJU’S Offerings
Aakash Educational Insititues have a total of 215 centres across India. They provide preparations for the medical and engineering students as well as for entrance exams, school board exams, NTSE and many other exams.
Talking about the merger, Byju Raveendran, the Founder, and CEO of BYJU’S said that the strengths of their company will ensure engaging and personalized learning programs. He said that the future of learning is “hybrid”. The merger between the two companies will create an impactful experience for their students.
He further said that the pandemic has made everyone realise that a blended form of education is important.
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The Managing Director of AESL Aakash Chaudhry also said that they preparing themselves for omni-channel learning which will take their test prep segment to new levels.
However, he assured that Aakash will continue to work as separate entity.
