KUALA LUMPUR, Sept 19 (Bernama) -- upGrad, Asia’s largest higher edtech company has announced the 100 per cent acquisition of corporate training solutions leader Centum Learning (Centum) in a share swap deal.
With this transaction, Bharti Enterprises Limited and its affiliates (together BEL) are joining upGrad’s cap table.
Centum is expected to clock a revenue of US$21 million in FY23. (US$1 = RM4.535)
Headquartered in New Delhi, Centum was formed in 2007 and currently offers impact-based training to corporates as well as vocational, and educational training to schools and college learners to make them either self-employed or meaningfully employed.
Commenting on the development, Mayank Kumar, Co-founder & MD, and Gaurav Kumar – President, Corporate Development of upGrad said in a statement: “Enterprise workforce upskilling is a supercritical need; however, the sector remains highly fragmented.
“upGrad has always seen enterprise upskilling as a strategic growth driver and we are making some nonlinear movements to reinvent B2B learning in India and create an integrated LifeLongLearning ecosystem for our stakeholders.”
“Both upGrad and Centum are committed to driving outcomes for their learners and therefore, I am excited about combining the two synergies for creating a scalable portfolio for continued results,” said Sanjay Bahl, Managing Director & CEO, Centum Learning.
-- BERNAMA
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