BYJU’S took over Aakash Institute -A step towards transformation
The scenario of the education industry has been changing rapidly. Due to the pandemic crisis all over the globe, there has been a paradigm shift in the way this industry works. Now, the traditional chalk-talk model has been replaced by more advanced and technology-driven online platforms.
While online learning platforms have thrived, offline teaching centers have been worst hit by the novel coronavirus, which has led to the closure of these teaching centers since March’2020. Subsequently, online education has catered to the needs of all stages of education from pre-primary to university level and has emerged as an alternative to ordinary physical interactive classes.
Trending: Byju’s Acquires Aakash Educational Services Pvt. Ltd.
With a billion dollars deal, Byju’s, India’s most valuable ed-tech unicorns in the world, has announced to buyout 100% stake in Aakash Educational Services Limited, offline test preparation leader for 1 Billion Dollars (nearly Rs 7,300 crore). It’s a whopping acquisition coming in from Byju’s is the biggest in its history. It comes barely in a year after it acquired WhiteHat Jr which has been in the space of providing coding lessons for children. The interesting part of this deal is while Byju’s has moved from a Brick-n-Mortar Model to a complete online or digital learning model. Aakash educational services operate a Brick-n-Mortar Model across the country. They have more than 200 physical test preparation centers across India. It will be interesting to see how this deal synergizes with it’s desired motive.
In this deal with Byju’s, the Chaudhary family, founders of Aakash Institute, will exit from the holdings completely. Furthermore, Blackstone will swap a portion of its 37.5% equity in Aakash for Byju’s stake.
Byju’s was founded by Byju Raveendran back in 2011 and it caters to students right from Kindergarten up to class 12th. Byju’s, headquartered at Bangalore, is valued at $12 billion. It has been on a fund-raising spree as the pandemic has raised the demand for its online lessons.
Currently, India has over 250 million students from Kindergarten to Class 12th and Byju’s is adding more than 5 million students every month. The ed-tech platform aims to increase its revenues doubling it to over USD 1 billion by the end of Financial Year 2021.
Having said, this acquisition will be the biggest in the educational technology/digital learning sector in the world and would be concluded in the next two to three months.
Why BYJU’S is acquiring AESL and why Aakash is Interested in this acquisition??
Acquiring Aakash will lend Byju’s a broader set of offerings and make them more rounded. As Aakash Institute has a student count of more than 2,50,000, it would give BYJU’S a direct entry into well-established infrastructure the offline test prep. market.
Also, AESL is on a mission to build India’s largest digitally-enabled, multi-channel education company. This will help accelerate their digital transformation and deliver phenomenal value to the students, and in turn, expanding their multi-channel & digital offerings.
BYJU’S is well-known to enter into new territories through acquisitions. Recently they also acquired White Hat Jr, another digital learning platform, where they will be using their model of having teachers in India helping students around the globe.
Education Industry and it’s shift to Digital Learning modes
This is a crucial time for the education sector—board examinations, school admissions, competitive and entrance examinations of various universities among others, are all held during this period. Needless to say, the pandemic has changed the centuries-old, traditional chalk–talk teaching model to one driven by technology. New Digital learning solutions and Learning Management Softwares are adopted so that teachers can conduct teaching online
Also, now it has become important to reconsider the current delivery and pedagogical methods in schools and higher educational divisions by seamlessly integrating classroom learning with e-learning techniques to build a unified and synchronized learning system.
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