Mumbai, India (CU)_ Byju’s, an Indian multinational online education company, revealed on Wednesday that it has purchased Epic, the American digital reading platform for kids, for $500 million, which is around INR 3,700 crore. According to a statement released by Byju’s, Epic CEO Suren Markosian and co-founder Kevin Donahue will stay in their positions in Epic.
The education technology giant said that it plans to invest an additional $1 billion in North America to help students love their education. This acquisition will enable Byju’s to grow its presence in the United States. Epic’s existing customer base has more than doubled in the previous year, which includes more than two million teachers and 50 million pupils. Byju’s will now have access to this vast customer base.
Byju Raveendran, founder and CEO of Byju’s expressed delight over the acquisition. He said, “Our partnership with Epic will enable us to create engaging and interactive reading and learning experiences for children globally. Our mission is to fuel curiosity and make students fall in love with learning. Knowing that Epic and its products are rooted in the same mission, it was a natural fit. Together, we have the opportunity to create impactful experiences for children to become lifelong learners”.
According to Mr. Markosian, co-founder of Epic, the alliance of missions and shared passion makes Byjus the ideal partner, and Epic is optimistic that this purchase will inspire excitement for learning across the globe.
