Online higher education company upGrad is set to acquire Global Study Partners (GSP), Australia’s largest study abroad company.
upGrad will invest $16 million to buy 100 percent of GSP and commit a further $10 million for future growth. GSP is slated to close its current financials at a GMV of over $10 million, which will grow four-fold in the coming year.
“As an Integrated EdTech leader – we span the entire gamut of a learner’s need from the age of 18-50, and in that, Study Abroad is a key growth initiative for us – not just out of India which is one of the two largest markets but also for our learners internationally,” Ronnie Screwvala, Chairperson and Co-Founder, upGrad said in a statement.
GSP, headquartered in Sydney, boasts of an institution network of 600 plus, predominantly in major western destination countries (Australia, the UK, Canada, and the US) and 1,300 plus recruitment partners – that include education and migration agents, schools, test preparation centres, alumni associations, etc.
upGrad, which offers more than 100 courses in collaboration with global/local universities like Deakin Business School (Australia), Duke CE (US), Michigan State University (US), Liverpool Business School (UK), IIT Madras (India), IIM Kozhikode (India) and others, has empowered over 10 lakh registered learners over 50 countries.
