Byju's, EdTech decacorn is in talks to acquire US-based online reading platform Epic. The acquisition is expected to help Byju's organically expand its market in the US. Epic's reading platform is built on a collection of over 40,000 most popular, high-quality books from over 250 publishers, with an aim to fuel curiosity and to read confidence for kids who are 12 and below. The deal value is said to be over $300 million.
Equip will become the second acquisition for Byju's in the US market if the deal is successful. The firm in 2019 bought the US-based educational gaming company Osmo for $120 million in a stock-and-cash deal. The firm has also acquired WhiteHatJr that teaches coding to children for a whopping sum of $300 million. Byju's already has a strong business in the United States market.
Besides, Byju's is also raising $700 million from its new and already existing investors in a fresh funding round to lift its valuation to about $15 billion. The finding is expected to help Byju's to fund its acquisitions in global markets, including the US. The firm aims to close the deal as early as possible, and it would be the biggest deal in the education space once closed, says recent reports.