upGrad had in December last year announced the acquisition of Gurugram-based edtech rival Talentage for reportedly Rs 350-400 crore.
Talent was valued at Rs 205 crore and almost 100% of the share swap transactions were done at an upgrade value of $2 billion.
The company said the talent is likely to cross Rs 150 crore gross revenue in the coming financial year.
“The talent integrated inside the upgrade will be a formidable combination that will be of great value to both of us,” said Narayanan V, who leads private investment at Sekhsaria Family Office, owner of Talentage.
Talentage has partnerships with leading universities for degree programs and for working professionals.
Mayank Kumar, Co-Founder and MD, Upgrade said, “The coming together of talent with Upgrade reinforces our leadership position in India’s lifelong learning market and we are looking forward to great synergies, cost savings and our ability to scale and consolidate. Let’s see the potential.”
Launched in 2015, the upgrade has a learner base of over two million in over 100 countries with over 300 university partners.
It has offices in the UK, US, Middle East, India, Singapore and Vietnam with presence in many more countries.