upGrad acquires edtech company KnowledgeHut

Higher education-focussed platform upGrad on Tuesday said it has acquired edtech company KnowledgeHut. While upGrad did not disclose the financial details of the transaction, the announcement comes within weeks of the company earmarking USD 250 million for mergers and acquisitions to drive non-linear growth for the next seven to nine months.

With the acquisition of KnowledgeHut, upGrad is venturing into the short duration upskilling and reskilling segment which has a market potential of over USD 58 billion, a statement said.

“To leverage this market opportunity, the combined might will allow KnowledgeHut – now rebranded as ‘KnowledgeHut, an upGrad company’ to offer learners a scalable and immersive learning model, to upskill and help them drive meaningful career outcomes, through its next-gen flagship learning experience platform, PRISM,” it added.