upGrad, the higher EdTech major, has confirmed closing and integrating all of Talentedge’s business with upGrad.
Talentedge has strong partnerships with leading universities for degree programs, and also for working professionals. Under the upGrad umbrella, Talendedge will operate under its own name and in the coming financial year is slated to cross a gross revenue of Rs 150 Crore ($20 million), as per the company.
Talentedge was valued at Rs 205 crore ($27 million) and the near 100% share swap transaction was done at an upGrad value of $ 2 billion.
“Talentedge has created a strong business for itself over the last decade and we are very happy to join forces with upGrad to scale this together to new heights. We have a deep belief in the future of Edtech. Talentedge integrated inside upGrad will be a formidable combination that will be very value accretive for both,” Narayanan V, who leads Private Investments at the Sekhsaria Family Office, the owners of Talentedge, said.
“The coming together of Talentedge with upGrad cements our leadership position in India’s LifeLongLearning market and we see great synergies, cost savings and our ability to scale and consolidate,” said Mayank Kumar, Co-founder and MD, upGrad.