Higher education company Great Learning, which is part of ed tech group Byju’s, has acquired Singapore-based Northwest Executive Education, a provider of university courses.
The deal gives the company a value of around $100 million and has been financed with a mix of Byju’s stocks and cash, according to various press reports.
Northwest will continue to operate as an independent company under the leadership of its co-founders Mohit Jain, Tamhant Jain and Maitreyi Singhvi.
With this merger, Northwest and Great Learning intend to leverage their synergies with the aim of expanding their offering of both blended and fully digital learning courses and broadening their customer base across Asia, the US, Latin America and Europe.
Founded in 2015, Northwest offers courses in management, technology and healthcare from universities including MIT, UC Berkeley, Yale and UCLA.
Mohan Lakhamraju, chief executive of Great Learning, said: “Northwest complements the strengths of Great Learning with a strong and expanding portfolio of programmes from global top tier universities.”
Established in 2013 and headquartered in Bengaluru, Great Learning partners with universities across the world to offer degrees, diplomas and certifications in a wide range of fields. The company claims to serve 4 million learners from more than 170 countries.
Byju’s acquired Great Learning in July 2021 for $600 million in a cash, stock and earnout deal and committed additional $400 million of further investment into the company to boost its growth and international expansion. Subsequently, Great Learning made its first add-on last February, when it bought campus recruitment platform Superset from Blume Ventures.
Byju’s is understood to have reached a valuation of more than $22 billion and is likely to file for an IPO. The company raised $800 million in March from Sumeru Ventures, Vitruvian Partners and BlackRock as well as founder and chief executive Byju Raveendran, who made a personal investment of $400 million.
Founded in 2011 and based in Bengaluru, Byju’s has more than 150 million learners on its platform and has operations in 21 countries and learning programmes in multiple languages.
Date published: 11 May 2022