Private Limited (AEON), the edtech company that offers technology to
universities for their courses through its platform Avagmah, today announced
that it has acquired Acadgild, an online edtech startup that offers high-end
tech skills to mid-career IT professionals for $10 million in an all stock
deal. As a result of this acquisition, AEON Learning emerges to be one of the
largest players in the online education industry for ambitious young busy
working professionals in India encompassing both education and skill
development courses. AEON reaches to 22,000 students across 66 countries, with
20% business originating from the US. The company aims to tap into the fast
growing online higher education market, which is pegged to be a $1.96 billion industry
by 2021 (as per a latest KPMG-Google report).
cutting-edge short-term IT skills complement Avagmah’s leadership in supporting
universities in offering their long term courses using technology. This
acquisition offers us a tremendous opportunity to shape the future of the
global workforce to produce readily deployable skilled talent. The acquisition
was the result of finding a perfect synergy of technology, talent and target
audience between Acadgild and Avagmah.
differentiated approach and offers a hybrid model that combines live classes
and an online platform for learning. Acadgild offers programs on leading edge
technology skills with hands-on mentorship from industry experts. It works with
various corporates offering over 35 industry ready skill development courses,
some of them being android programing, analytics, big data and more.
Learning said, “There are clear synergies in the
business processes and target markets of both Avagmah and Acadgild and this
acquisition puts us in a formidable position to address both education and
reskilling needs of working professionals and will help us grow and scale
faster than ever”
date has raised a cumulative funding of $6.5 million and expects to reach a
student base of over 100,000 in 5 years time.
initial investment from venture capital firm Jupiter Capital, Enki and K Ganesh
of GrowthStory and works with corporates like GE, Capgemini, Cognizant, Oracle
and more. Avagmah is backed by marquee investors like Kris Gopalakrishnan of
Infosys, Sri Hari of Lion Rock Capital, Atul Nissar of Aptech and Meena Ganesh.