Byju’s, a leading online learning platform, has acquired Epic, the world’s leading digital reading platform for kids 12 and under, for $500 million.
Byju’s earlier purchased Aakash Institute for nearly $1 billion.
The Epic deal was backed by General Atlantic, Sequoia Capital, the Chan-Zuckerberg Initiative, Naspers, Silver Lake, Tiger Global and other investors.
Byju’s said that the acquisition will help expand its US footprint by providing access to the more than two million teachers and 50 million kids in Epic’s existing global user-base, which more than doubled over the last year.
The company said it will invest $1 billion in North America to accelerate its vision of helping students fall in love with learning.
“Our mission is to fuel curiosity and make students fall in love with learning. Knowing that Epic and its products are rooted in the same mission, it was a natural fit,” Byju’s founder and CEO Byju Raveendran said.
Byju’s has 100 million students on its online education platform.
Epic CEO Suren Markosian, and co-founder Kevin Donahue, will remain in their roles and continue carrying out Epic’s mission to unlock the potential of every child through reading.