upGrad acquires global edtech firm KnowledgeHut for undisclosed sum

Edtech platform upGrad on Tuesday said it has acquired global firm KnowledgeHut for an undisclosed sum.

KnowledgeHut, an upGrad Company, expects to cross Rs 300 crore in revenue next year, 65 per cent of which will be from countries across North America, Middle East and South-East Asia.

The move comes within weeks of upGrad earmarking $250 million for mergers & acquisitions to drive non-linear growth for the next seven to nine months, the company said in a statement.

“With KnowledgeHut on board, our focus on being an integrated ‘LifeLongLearning’ partner for powering career success for the global 1 billion workforce just got stronger. KnowledgeHut’s presence in over 70 countries will further upGrad’s ambition of liberalising quality online education around the world,” said Ronnie Screwvala, upGrad Chairperson and Co-Founder.