Ronnie Screwvala led upGrad has completed its acquisition of Unacademy for just over $200 million, with Unacademy cofounder and CEO Gaurav Munjal confirming that the transaction closed on September 1. The deal brings months of negotiations between the two edtech companies to an end.
The transaction marks a significant reset in Unacademys valuation. The company was valued at $3.44 billion at its peak in 2021, putting the latest deal value more than 90% below its pandemic era valuation. The acquisition was structured as an all stock transaction, with Unacademy shareholders receiving upGrad shares.
Unacademy Acquisition Follows Months Of Valuation Negotiations
The upGrad Unacademy deal had been under discussion for several months, with negotiations reportedly facing differences over valuation before being revived. In March, the companies signed a term sheet for an all stock transaction, while the Competition Commission of India approved the proposed combination in July.
Unacademy has significantly scaled back from its pandemic era expansion and focused on building a more sustainable business. Munjal said the company currently has a topline of around Rs 400 crore, with most businesses profitable or close to profitability, alongside around Rs 900 crore in cash.
What The Unacademy Deal Adds To upGrads Business
The acquisition gives upGrad an entry into online test preparation, expanding its existing presence across higher education, professional upskilling, study abroad and certification programmes. Unacademys test preparation business covers categories including UPSC, JEE, NEET and GATE.
The transaction also brings Unacademys wider operating businesses under the upGrad umbrella. Unacademy cofounder and CEO Gaurav Munjal is set to continue in his role, while the acquisition adds a large test preparation learner base to upGrads existing education portfolio.
FAQs
- What is the upGrad Unacademy acquisition?
upGrad has completed its acquisition of Unacademy for just over $200 million in an all stock deal, adding Unacademy to its broader education business.
- How much did upGrad pay for Unacademy?
upGrad acquired Unacademy for just over $200 million. The transaction was structured as an all stock deal, with Unacademy shareholders receiving upGrad shares.
- When did upGrad acquire Unacademy?
The upGrad Unacademy acquisition was completed on September 1, 2026, following months of negotiations between the two edtech companies.
- What was Unacademys valuation before the acquisition?
Unacademy was valued at $3.44 billion at its peak in 2021. The latest acquisition value represents a decline of more than 90% from that valuation.
