UpGrad, a company focused on online education, announced that it had acquired global EdTech firm KnowledgeHut. It follows upGrad’s allocation of $250 million for Mergers & Acquisition for a near-term growth acceleration program.
upGrad Chairperson & Co-Founder Ronnie Screwvala, said, “With KnowledgeHut on board, our focus on being an integrated Lifelong Learning partner for powering career success for the 1 billion members of the global workforce just got stronger. KnowledgeHut’s presence in 70+ countries will further upGrad’s ambition of liberalizing quality online education around the world.”
UpGrad will benefit from this acquisition by launching its short-duration upskilling and reskilling program, which has a market potential of $58 billion. KnowledgeHut will use its next-generation flagship learning experience platform, PRISM, to leverage this market opportunity and help students drive meaningful career outcomes.
upGrad’s KnowledgeHut CEO Subramanyam Reddy, commented, “With our focus on short-term professional upskilling, KnowledgeHut is driving outcome-based immersive learning for global technologists and the wider professional community. Given our position in global markets, this synergy with upGrad will further strengthen and support that vision. The acquisition paves the way for upGrad to empower B2B customer segments across geographies including the United States and the Asia Pacific.”
Through immersive learning based on outcomes, KnowledgeHut strives to give global workers the skills of the future. The company has trained more than 250,000 professionals and empowered over 500 organizations with a wide array of skills training courses in areas such as Web Development, Machine Learning (ML) and AI, Agile and Project Management, IT Service Management, Cyber Security, and Cloud Computing.