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Edtech decacorn Byju’s has closed the deal to acquire exam preparation firm Aakash Educational Services Limited (AESL) for nearly $1 billion. The stock-and-cash deal is the biggest in the education space, said sources.
Byju’s said the deal is a strategic partnership with AESL, a leader in test-prep services.
“I am happy to have Aakash Educational Services Limited (AESL), a market leader and the most trusted name in the test-prep services, on board with us,” said Byju Raveendran, Founder, and CEO, Byju’s. “Our complementary strengths will enable us to build capabilities, create engaging and personalised learning programmes. The future of learning
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