2. Yesterday, BYJU’S acquired US-based
edtech startup Epic for $500M in one of the
largest international acquisitions. This is a
part of the company's efforts to increase it's
international footprint. This acquisition gives
BYJU'S access to two million teachers and 50
million children who are part of Epic’s
existing global user base, which more than
doubled over the last year.
THE STORY SO FAR
3. THE SIGNIFICANCE
Epic has over 40,000 books and over 300
publishers on the platform. Last year alone,
close to one billion books were read on
EPIC. Lots of school are now using Epic for
their Reading and Library programs for their
students. All IB schools use EPIC. This half a
billion dollars isn't cheap but it gives BYJU'S
a worthy foothold and entry point into the
US market.
4. MOTIVES
BYJU'S has big plans. This is in fact just one
in the string of acquisitions they have been
making. BYJU'S is aiming to be the one
stop shop for all things kids. They
purchased OSMO, a US based educational
games maker for a whopping $120 M. They
also acquired Labin App, a virtual laboratory
app for an undisclosed sum. Back home, they
acquired AAKASH for an eye-popping $950
Million.
6. FUTURE PLANS
The company is now looking to make a
revenue of $300 million from the US
market in the coming year. The edtech giant
is also looking to invest $1 billion in North
America, with a focus to accelerate its
growth in the region. Having already spent
about 2 billion dollars on acquisitions, the
company is definitely on the lookout to
expand it's international presence through
mergers and acquisitions.
