Byju’s acquires Aakash Educational Services for about $1 billion

Byju’s has acquired test-prep leader Aakash Educational Services for nearly USD 1 billion (about Rs 7,300 crore) as India’s biggest online education startup looks to build its position in the brick and mortar segment.

The acquisition is Byju’s biggest and one of the largest ed-tech deals in the world. Post the transaction, Blackstone Group and Aakash Educational Services Ltd (AESL) founders will hold a minority stake in Byju’s, which is valued at about USD 13 billion.

Byju’s, the most valued ed-tech startup in the country, is backed by marquee investors like Mary Meeker, Yuri Milner, Chan-Zuckerberg Initiative, Tencent, Sequoia Capital, Tiger Global and others. It is estimated to have raised over USD 2 billion in funding to date.