Byju’s acquires US edtech firm Epic in $500-million deal

Bengaluru | Mumbai: Education technology leader Byju’s has acquired US-based kids learning platform Epic in a $500-million cash-and-stock deal.

This is its second-biggest buyout after brick-and-mortar coaching network Aakash Institute, which it snapped up earlier this year for nearly $1 billion.

The Epic acquisition is part of Byju’s foray into the overseas market, from where it expects annual revenue of $300 million this financial year, cofounder Byju Raveendran told ET. In 2019, it had acquired US-based maker of educational games Osmo for $120 million. The Bengaluru-based startup said it aims to invest around $1 billion in North America over the next couple of years.