Acquisition of Baiju Akash Educational Services: Beginning of the education sector Baiju Akash Educational Services Limited (ESL) has acquired one billion US dollars (Rs. 300 crore).
Acquisition of Baijur Akash Educational Services: Introduction to the Education Sector Baijur has acquired Akash Educational Services Limited (ESL) to further strengthen its presence in the examination preparation department in the country.
According to sources, this agreement is the biggest agreement of Baiju and it is being considered as the biggest agreement in the field of education technology in the world. Under the ১ 1 billion (approximately Rs. 300 crore) deal, Akash and the founder of the Blackstone Group will become minority shareholders in Baiju. Baiju is the country’s most valuable education technology startup, valued at 13 13 billion.
Akash Chowdhury, managing director of ESL, said the deal was partly in the form of cash and some in the form of equity.
“It’s about 60-6565 percent in cash and the rest is equity … the total amount of this deal is about one billion dollars,” he said.
ASA and Baiju started negotiations for the deal about 6-7 months ago.
“This is the biggest integration in education in India and especially in the startup sector,” Chowdhury said. Covid-19 has paved the way for online education and we believe it includes exam preparation as well as higher education. ‘
He said Baiju would invest more to consolidate the growth of the sky after the unification.
On the other hand, Baiju is today the most valuable start in the education technology sector of the country. It has the support of Mary Maker, Yuri Milner, Chan-Zuckerberg Initiative, Tencent, Sequoia Capital, Tiger Global and others. Baiju is estimated to have raised দুই 2 billion so far.
Sources say Baiju is preparing to raise an additional ০ 0 million to ০ 1 million so that it can expand further.