According to media sources, Edtech unicorn Byju’s has bought Singapore-based Northwest Executive Education for roughly USD 100 million (around ₹750 crore) in stock and cash.
Northwest Executive Education was obtained by Byju’s through its wholly owned upskilling platform Great Learning.
Great Learning purchased Superset, a recruitment platform funded by Blume Ventures, in February of this year.
Northwest Executive Education, which was founded in 2015, offers programmes in management, leadership, technology, healthcare, innovation, and other in-demand executive learning areas. Participants are said to come from more than 50 nations.
Northwest, based in Singapore, has collaborations with universities such as MIT, UC Berkeley, Yale, UCLA, University of Chicago, and others. Northwest Executive Education and Great Learning will work together in the future to use synergies to develop their offerings in areas such as India, Asia, the United States, Latin America, and Europe.
Byju’s stated at the time of the Great Learning acquisition that it planned to invest another USD 400 million in the professional skilling and life-long learning segment.
Great Learning has grown significantly since the Byju’s deal last year, with over four million learners from over 170 countries and a network of over 4,700 industry specialists.
Byju’s spent more than $2 billion in acquisitions last year, backed by Silver Lake, Blackrock, and other investors, with the brick-and-mortar teaching network Aakash Institute being its largest to date.
The Aakash Institute acquisition was worth nearly a billion dollars. Other notable acquisitions include Epic and Toppr.
Byju’s is now worth USD 22 billion, according to a USD 800 million investment round announced in March, in which company founder Byju Raveendran is contributing USD 400 million on his own to grow his ownership in the company. Sumeru Ventures, Vitruvian Partners, and BlackRock were the other investors who joined in the fundraising round.