According to Moneycontrol, US-based alternative investment management company Blackstone is set to acquire a majority stake in Simplilearn, a company that offers online education as well as post-graduate credits for professionals.
A leading online bootcamp for learning digital skills, Simplilearn is based in San Francisco and Bengaluru. Firms including Kalaari Capital, Helion Venture Capital and Mayfield Fund have invested in the company.
As said by one of the people familiar with the matter to Moneycontrol, “Blackstone will acquire a controlling stake in Simplilearn in a transaction which gives the combined firm an enterprise value of $350 million. An official announcement is expected shortly.”
A second person has told that the investors Kalaari Capital, Helion Ventures and Mayfield will be making a “complete exist” as a part of the agreement. However, the Founder and CEO Krishna Kumar would not quit.
Another individual added that in partnership with Blackstone, which has an enterprise in the field of educational technology (ed-tech), the CEO is aiming to develop the firm as the world’s largest digital skilling company.
Simplilearn responded to an e-mail query from Moneycontrol saying, “As we are one of the leading ed-tech players, there are always investment firms talking to us. However, if we close any transaction, we will definitely talk about it. Right now, we have no comment to share.”
As per the Times of India (TOI), Simplilearn would use these funds to expand into the US and Europe along with forming partnerships with global universities.
