Indian online tutoring start-up Byju’s has acquired Osmo, a maker of educational games, for $120 million in its first-ever purchase of a US company.
The acquisition will help Byju’s offer learning solutions to children aged between three and eight by tapping into Osmo’s physical-to-digital technology and content.
Bangalore-based Byju’s provides K12 online education services, as well as tutorial services for those wishing to pass popular and challenging competitive entrance examinations, such as the JEE preliminary and mains, medical entrance tests, civil service examinations, and others. Its learning app offers personalised programmes for school students across grades 4-12 and it has more than two million annual paid subscriptions and 30 million students learning from the app.
Byju’s says it has been focusing on creating engaging, immersive content offered through personalised learning experiences for students. It adds that Osmo’s use of mixed reality interactions will help it expand its platform to new audiences and applications.
Last month, Byju’s raised $540 million at a valuation of $3.6 billion, making it fourth most valuable start-ups in India, after digital payments firm Paytm, cab-hailing service Ola and budget hotel chain Oyo Rooms.
Osmo was founded in 2013 by ex-Google engineers Pramod Sharma and Jerome Scholler and is based in Palo Alto in the San Francisco Bay Area.
Date published: 17 January 2019