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Byju's acquires US start-up Epic for $500 mn

The ed-tech major has been on an acquisition spree

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New Delhi: Signalling its bid to expand its global footprint, edtech major Byju’s has announced that it has acquired Epic, US based digital reading platform for kids for $500 million.

The company said it will invest an additional $1 billion in the US to strengthen its vision of "helping students fall in love with learning".

The acquisition will enable the ed-tech major to bolster its presence in the US market by providing access to the more than two million teachers and 50 million kids in Epic's existing global user-base, which has more than doubled over the last year, Byju’s said in a statement. It will also enable it 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 lifelong learners,” said Byju’s founder and CEO, Byju Raveendran.

Epic CEO Suren Markosian and co-founder Kevin Donahue will continue in their current roles.

“The alignment of missions and shared passion makes Byju’s the perfect partner, as Epic is confident that this acquisition will ignite excitement for learning around the world,” said Epic co-founder, Markosian. “Together, we can help empower future generations of kids by fostering a lifetime love for reading and learning.”

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

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