Byju's says no merger or acquisition talks with Unacademy

Indian edtech giant Byju’s says the firm and any of its subsidiaries are not engaging with rival Unacademy to explore an acquisition.

What happened

Last day to exhibit your breakthrough to 10,000+ tech leaders at Disrupt is on Oct 2. Book Exhibit Table Now.

Why it matters

Indian edtech giant Byju’s said on Thursday the firm and any of its subsidiaries are not engaging with rival Unacademy to explore an acquisition or merger, refuting a media report at a time when weakening global market conditions have sparked several consolidation plays in the industry.

Indian news outlet MoneyControl reported earlier that Byju’s physical tutor unit Aakash is in talks to merge with Unacademy. “We strongly deny that Byju’s is considering a merger of Unacademy into Aakash Educational Services. As a parent company, BYJU’S is committed to investing in the growth of Aakash Educational Services, which is growing at more than 50% year-on-year,” a Byju’s spokesperson said in a statement.

“We have had absolutely no discussions with Unacademy or any other player to merge with Aakash Educational Services. Aakash is a market leader in our segment with an impeccable track record of delivery and results and we are focused on our organic growth and delivery to the lakhs of students that have trusted us,” an Aakash spokesperson said.

This news brief is based on reporting published by TechCrunch on 2023-03-23. The original report is linked below.