Indian ed tech upGrad has acquired Impartus, a video-enabled solutions provider, in a $21 million deal – as it begins to deploy fresh capital raised in recent weeks.
Following the takeover, Impartus will be a 100% subsidiary of upGrad and be rebranded as upGrad Campus, affording the combined organisation access to 280 higher education institutions, 50,000 teachers and 600,000 learners.
The deal comes just weeks after upGrad raised $160 in total – $120 million from Singaporean sovereign wealth fund Temasek and $40 million from the International Finance Corporation, which is affiliated with the World Bank.
The transaction will see upGrad target two verticals – business-to-business (B2B) and business-to-consumer (B2C).
The B2C vertical will offer job-oriented courses in areas of full stack development, artificial intelligence, digital marketing, business analytics, and career preparation. Meanwhile, B2B offerings will be geared at HEIs.
Impartus was founded by chief executive Amit Mahensaria, Alok Choudhary and Manish Kumar.
Date published: 24 May 2021