Byju’s, which ranks among the highest valued startups in the US, announced that it has acquired Epic, a digital reading platform for children, for USD 500 million (about Rs 3,729.8 crore). According to a release, the firm would invest an additional USD 1 billion in North America to assist students “fall in love with learning.”
Byju’s will benefit from the acquisition by gaining access to Epic’s existing worldwide user base, which has more than doubled in the previous year, which includes more than two million teachers and 50 million children.
Epic CEO Suren Markosian and co-founder Kevin Donahue will remain in their roles, the statement noted.
Byju’s has aggressive plans for international and US market expansion, and the acquisition with Epic will not only lead to significant investments in technology that will help to further personalised learning for students but also enable Byju’s to become a natural part of America’s learning culture, the statement said.
BYJU’S Founder and CEO Byju Raveendran said that the partnership between the two companies will enable them an opportunity to create impactful experiences for children to become life-long learners.
“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 life-long learners,” Raveendran told India TV.
Epic has a collection of over 40,000 books, audiobooks and videos from more than 250 of the world’s best publishers. It has made access free to educators, and more than 2 million teachers have signed up for classroom use.