The Competition Commission of India (CCI) has approved upGrad’s acquisition of certain shareholding in Unacademy parent Sorting Hat Technologies Private Limited and the subsequent merger of Sorting Hat into upGrad Education.
The clearance removes an important regulatory hurdle for one of the biggest consolidation moves in India’s edtech sector, where companies have been reshaping their businesses after the pandemic-era funding boom gave way to slower growth and a stronger focus on profitability.
In its brief order issued on Tuesday, the competition watchdog said a detailed order will follow.
The approval marks the latest stage in a transaction that first came to light in May, when upGrad and Unacademy sought CCI approval for their proposed merger.
The deal had been structured as an all-share transaction, with Unacademy expected to become part of the Ronnie Screwvala-led upGrad group while retaining operational continuity under its existing leadership.
