The Kalpathi AGS Group-owned Veranda Learning Solutions has acquired edtech Edureka, a live-instructor-led online solutions provider for the IT industry. This 100 percent acquisition marks Veranda Learning Solutions’ second buyout since December 2020.
Veranda is planning an outlay of around $100 million for acquisitions over the next 6 months to seize the opportunities opening up in the edtech space.
Founded in 2011 by Lovleen Bhatia, Kapil Tyagi and Vineet Chaturvedi, Edureka is known for Live Online Classes-based Upskilling programs for working professionals.
Kalpathi Suresh, Executive Chairman, Veranda Learning Solutions, “Veranda is in active discussion with multiple targets for acquisition to create a multi modal platform that spans test prep, upskilling and supplemental education. With the current acquisition we are poised to expand our footprint in Europe and the North American markets as well. For me personally, getting back into software education is exciting and sets the stage for us to again do our part in meeting the rising demand for high-end skills in the country.”
Kalpathi Group forayed into the $1.96 billion ed-tech space by launching Veranda Learning Solutions with aspirations to create a world class enterprise with Indian values.
Veranda is a comprehensive 360-degree online education platform. Focused on academic outcomes for its students, Veranda adopts a multi-modal delivery system backed by a rigorous and disciplined learning framework, according to a press release.
Veranda acquired the online business of Chennai Race, a coaching institute for Banking, SSC and PSC exams in late FY2020 and launched Veranda Race. The company has also launched programs for CA and IAS aspirants this quarter under the brand of Veranda CA and Veranda IAS respectively.
