Byju’s acquires Aakash Educational Services for nearly $1 billion

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Indian edtech startup Byju’s confirmed that it has acquired Aakash Educational Service Limited (AESL) in a deal valued at nearly $1 billion.
Byju’s, which is India’s most valued edtech startup, has acquired Blackstone-backed AESL for over $900 million in a cash and stock deal.
The acquisition will help Byju’s expanded its presence in the test prep segment and also in advancing its physical presence.
Aakash Educational Services will function independently after the acquisition, and it will be led by founders JC Chaudhry and Aakash Chaudhry.
The deal will help Byju’s take on rival Unacademy which has made close to six acquisitions last year in the test prep space.
The Blackstone Group and AESL founders will hold a minority stake in Byju’s at a valuation of about $13 billion.