After its most recent acquisition of the WhiteHat Jr., Byju’s is planning to acquire Toppr, its contemporary and a leading name in the K-12 space.
“The two companies have been in talks for over two months and it has now reached an advanced stage,” a source informed Entrackr. The deal is seemingly a $150 million worth deal and the announcement is to be made with regards to this in near future.
This is the third such acquisition of a large scale, the previous two being WhiteHat Jr. for $300 million and Aakash Educational services for $1 billion. A potential acquisition of that of Doubtnut, failed due to inconclusive decisions upon valuation.
“Byju’s sees Toppr as a formidable player in K-12 space and the acquisition will bolster its positioning in the space. The transaction will largely consist of cash along with a little equity,” said a source to Entrackr.
Toppr did not meet high raise in funds during last year and the Foundation Holdings led Series D round of funding saw only one existing investor, Kaizen Private Equity. Other investors include names of Helion Venture Partners, Elevation Capital, Eight Roads Ventures and Aliteria Capital.
Further details are awaited on part of the both sides.