Ed-tech platform Simplilearn has acquired US-based bootcamp education company Fullstack Academy, for an all-cash transaction. The company has not disclosed the size of the deal.
The acquisition, it said, said will enhance Simplilearn’s scale and presence in the bootcamp space and drive revenue growth to $200 million by FY24, of which 70 per cent is likely to come from global markets.
Previously, Simplilearn had acquired online marketing courses provider Market Motive in 2015. The platform has also raised $45 million in funding recently from a consortium of investors led by GSV Ventures.
Krishna Kumar, Founder, and CEO, Simplilearn, said, “Through Fullstack Academy’s wide-spread footprint in the US and its strong partnerships with top universities, we are confident that this collaboration will enable us to accelerate our global expansion plans. We are certain we will be able to leverage each other’s capabilities synergistically to build a strong company.”
Exponential growth
The company said it has grown exponentially by over 60 per cent in the past year and this complementary acquisition will accelerate Simplilearn’s journey to become the largest digital skilling company globally.
Fullstack’s existing partnerships across 15 states would provide Simplilearn access to new university partnerships that will expedite Simplilearn’s growth in the region. Following the sale, all Fullstack Academy employees will remain in their roles as part of the combined organisation, bringing Simplilearn’s total employee count to over 2,500. Fullstack Academy will continue to serve its students and partners as an independent business unit within Simplilearn.
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Published on November 28, 2022
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