Homegrown online higher education company upGrad on Tuesday announced its entry into the test preparation market with the acquisition of The Gate Academy (TGA) for an undisclosed amount.
Bengaluru-based TGA is one of India’s premier coaching institutes with 57 centres across the country and 76 million video hours consumed by its almost two lakh enrolled learners for GATE and other entrance tests for various public/government sector jobs.
“TGA provides upGrad a non-linear growth opportunity in new-segment entry and deeper penetration in the semi-urban and rural markets, which is in line with our core vision of making Bharat employable by adopting the mantra of LifeLong Learning,” upGrad Co-founders, Ronnie Screwvala and Mayank Kumar, said in a joint statement.
Post the acquisition, TGA will operate as a subsidiary of upGrad and will continue with its brand name.
Ritesh Raushan, Founder and CEO, The Gate Academy, will pursue as the CEO of the entity to build this business line and upGrad will be providing its proprietary online learning solution and tools for enhancing the learning experience, as well as its sales, marketing, and content prowess.
The edtech company said it also plans to invest over Rs 100 crore into this test preparation subsidiary and will be developing over 20,000 hours of content in multiple languages to provide access to at least one million test-takers annually.
“The coming months will be very exciting as we have a robust plan of over 100 new program launches with top national and international universities, coupled with other acquisitions in the higher education space,” said Arjun Mohan, CEO – India, upGrad.
–IANS
