(L-R) Phalgun Kompalli, co-founder; Mayank Kumar, co-founder, MD and Ronnie Screwvala, chairman, co-founder upGrad.

Bangalore-based higher education and upskilling course provider UpGrad is acquiring Sydney-headquartered Global Study Partners (GSP), Australia’s largest study abroad company, for US$16 million, The Hindu Business Line has reported.

Global Study Partners partners with more than 600 institutions, predominantly in Australia, the UK, Canada and the US, as well as and 1,300 recruitment partners including education and migration agents, schools, test preparation centres and alumni associations.

This is UpGrad’s first overseas acquisition and the company stated it is to commit $10 million to GSP for future growth.

upGrad’s founder and chairperson Ronnie Screwvala said: “As an integrated ed tech leader – we span the entire gamut of a learner’s need from the age of 18 to 50 and in that, Study Abroad is a key growth initiative for us – not just out of India, which is one of the two largest markets but also for our learners internationally. GSP coming into upGrad’s fold will be a needle mover for us to attain a head start in being a global leader in this segment too.”

Elaine Starkey, founder and chief executive at Global Study Partners, added: “I couldn’t think of a more complementary business that is underpinned by shared principles and ethics to empower learners throughout the world. Ronnie and Mayank [Kumar co-founder and managing director] are true visionaries with a deep understanding of this sector and truly get that it’s all about the learner’s experience. GSP partners’, institutions and recruitment partners worldwide, will enjoy the benefits that the additional reach and capacity GSP can now deliver, and they can expect significant growth in quality student enrolments.”

Date published: 29 November 2021

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