Byju’s buys Epic for $500 mn; to expand in North American market

Ed-tech major Byju’s said Wednesday it has acquired US-based kids digital reading platform Epic in a $500 million deal, as it aims to make inroads into the key overseas market.

The transaction comes a little over three months after the Bengaluru-based startup acquired Indian brick-and-mortar test prep service provider Aakash Educational Services in a near $1 billion deal, one of the biggest in the local ed-tech space. The deal with Epic, therefore becomes Byju’s second biggest deal.

Byju’s said that the acquisition of Epic that caters to kids aged 12 and under will help broaden its footprint in the US as the firm will get access to Epic’s rich global user base that is said to have doubled over the last year and now comprises more than 2 million teachers and 50 million kids.