Ronnie Screwvala’s upGrad submits bid to buy BYJU’S parent: Report
The Indian edtech industry has been abuzz with the news of BYJU’S parent company, Think & Learn, facing insolvency. As the company navigates through this challenging phase, several prominent players have expressed interest in acquiring the beleaguered firm. In a recent development, Ronnie Screwvala-led edtech firm upGrad has reportedly submitted a bid to acquire Think & Learn. This move has sparked significant interest in the industry, with many speculating about the potential implications of such a deal.
According to reports, upGrad has filed an Expression of Interest (EoI) to acquire Think & Learn, which is currently under the insolvency process. When asked about the development, Screwvala told Moneycontrol, “For now, we have only filed our Expression of Interest to know more and…review the various assets of BYJU’S parent company.” This statement suggests that upGrad is still in the process of evaluating the opportunity and has not yet made a firm commitment to acquire the company.
upGrad’s interest in acquiring Think & Learn is not entirely surprising, given the company’s aggressive expansion plans in the edtech space. Founded by Ronnie Screwvala, Mayank Kumar, and Phalgun Kompalli in 2015, upGrad has established itself as a prominent player in the online education sector. The company offers a range of courses and programs in collaboration with top universities and industry partners, catering to the needs of working professionals and students.
The acquisition of Think & Learn could provide upGrad with a significant opportunity to expand its reach and offerings in the edtech space. BYJU’S, which is owned by Think & Learn, is one of the most popular edtech brands in India, with a strong presence in the K-12 segment. By acquiring the company, upGrad could gain access to BYJU’S vast customer base and expand its own offerings to include K-12 education.
However, upGrad is not the only company interested in acquiring Think & Learn. Earlier, Ranjan Pai’s Manipal Education and Medical Group had also submitted a bid to acquire the company. The entry of upGrad into the fray has added a new dimension to the acquisition process, with several other players also rumored to be interested in the deal.
The insolvency process of Think & Learn has been a long and complex one, with the company facing significant financial challenges in recent times. The acquisition of the company by a new player could provide a much-needed boost to the edtech sector, which has faced significant challenges in recent times. The Indian edtech industry has been plagued by issues such as high customer acquisition costs, intense competition, and regulatory challenges, which have made it difficult for companies to achieve profitability.
Despite these challenges, the edtech sector remains a highly attractive one, with significant growth potential in the coming years. The acquisition of Think & Learn by upGrad or any other player could provide a significant impetus to the sector, driving growth and innovation in the years to come.
As the acquisition process unfolds, it will be interesting to see how the deal plays out. Will upGrad emerge as the successful bidder, or will another player acquire Think & Learn? Only time will tell, but one thing is certain – the acquisition of BYJU’S parent company will have significant implications for the Indian edtech industry.
In conclusion, the submission of a bid by upGrad to acquire Think & Learn is a significant development in the Indian edtech industry. As the acquisition process unfolds, it will be interesting to see how the deal plays out and what implications it will have for the sector. With several prominent players interested in the deal, the outcome is far from certain, but one thing is clear – the Indian edtech industry is poised for significant growth and innovation in the years to come.
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