new Delhi. How strange that 6-year-old Baiju bought 33-year-old Akash. Yes, two educational companies are talking here. Byju has acquired Aakash Educational Services Limited (AESL) under a strategic merger (Byju-Aakash Deal). According to the information, Biju has spent about one billion dollars i.e. 7300 crores for this. It is considered to be the largest of any two educational brands.
Also read: Mukesh Ambani going to play new bet with Facebook and Google, will compete with Visa and MasterCard
33 years track record
Amit Dixit, co-head of Asia Acquisitions and head of private equity in India at Blackstone, said in a statement, “We invested in AESL because it is a professional management team, best-in-class corporate governance and exceptional results in India Saath is one of the leading education brands with a track-record of 33 years. We have always believed that Omni-Channel would be an excellent model for test preparation and tuition and we are in the middle of two leading companies in Indian complementary education Akash and Byju Looking forward to being a part of the partnership. The combination of Aakash and Byju is full of synergy and we are excited to help build India’s largest education company. “
Also read: Country’s largest bank SBI increases home loan, new rates come into effect from April 1
215 centers of sky in the country
With over 215 centers, Akash provides education to students preparing for Medical and Engineering Entrance Examination, School / Board Examination, KVPY, NTSE, Olympiad and other Foundation level exams. “Our complementary strengths will enable us to build capabilities, engaging and with personalized learning,” Baiju founder and CEO Baiju Ravindran said in a statement. He also emphasized that learning will take place in a hybrid way in the future and this partnership will offer the best way to learn offline and online.