Byju’s acquires Epic for $500 mn
California, Jul 21, 2021: Edtech platform Byju's has acquired US-based digital reading platform Epic for USD 500 million (around Rs 3,729.8 crore).
After the acquisition, Byju's will also invest an additional USD 1 billion (about Rs 7,459.7 crore) in the North American market.
In a statement, Byju's said it has acquired Epic, a digital reading platform for kids aged 12 years and under, in a USD 500 million deal. The acquisition will help Byju's expand its footprint in the US by providing access to the more than two million teachers and 50 million kids in Epic's existing global user base, which has more than doubled over the last year, it added.
Epic CEO Suren Markosian and co-founder Kevin Donahue will remain in their roles, the statement noted.
Epic has a collection of ove...