Indian edtech decacorn Byju’s is looking to scoop up smaller rival Toppr for about USD 150 million in a bid to clear competition and fuel its inorganic growth.
“The two companies have been in talks for over two months and it has now reached an advanced stage,” local media Entrackr quoted a source who is privy to the discussions. “The deal that would value over USD 150 million is likely to be closed and announced soon.”
“Byju’s sees Toppr as a formidable player in K-12 space and the acquisition will bolster its positioning in the space. The transaction will largely consist of cash along with a little equity,” one of the three sources told Entrackr.
Founded in 2013 by Zishaan Hayath, Toppr has been one of the major…