SynopsisUpGrad is acquiring Unacademy through an all-stock transaction. The Competition Commission of India cleared the merger on July 7, removing a key regulatory hurdle for the deal. Sources told ET that signing of the definitive agreements is nearly complete. Almost all the institutional investors have signed the share subscription agreement, while all the angel investors have executed their share purchase agreements.Unacademy’s investors will receive one seat on UpGrad’s board as part of the edtechs’ merger, with the final transaction value fixed at Rs 1,955 crore, people aware of the matter told ET.The deal is expected to close within three weeks, the people said. The final value is Rs 100 crore lower than the Rs 2,055 crore envisaged earlier. ET reported exclusively on May 4 that UpGrad will be buying Unacademy for around Rs 2,055 crore, 90% below theNow Playing
Unacademy investors to get UpGrad board seat as Rs 1,955-crore merger nears close - The Economic Times
UpGrad is acquiring Unacademy through an all-stock transaction. The Competition Commission of India cleared the merger on July 7, removing a key regulatory hurdle for the deal. Sources told ET that signing of the definitive agreements is nearly complete. Almost all the institutional investors have signed the share subscription agreement, while all the angel investors have executed their share purchase agreements.
TL;DRAI
UpGrad acquires Unacademy for Rs 1,955 crore in all-stock deal; CCI approval clears path to close within three weeks. EdTech consolidation accelerates; all-stock structure signals founder confidence in combined platform while board seat protects investor interests.
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