upGrad–Unacademy Merger Deal Moves To CCI For Approval
upGrad has filed for approval with the Competition Commission of India (CCI), marking the first major regulatory step in the acquisition process.
After years of aggressive growth, high valuations, and pandemic-led expansion, the ed-tech sector is now moving toward consolidation. The latest sign of that shift is upGrad’s move to acquire Unacademy, a deal that could become one of the biggest mergers in India’s edtech space.
On the surface, the deal gives upGrad access to the online test preparation market, where it currently has limited presence. But the bigger story goes much deeper. This acquisition reflects how India’s edtech industry is changing after the post-pandemic slowdown, funding crunch, and growing pressure to become financially sustainable.
A Sharp Fall From Edtech’s Peak Years
The proposed all-stock deal is expected to value Unacademy at around Rs 2,055 crore, or nearly USD 218 million. That number stands in sharp contrast to the company’s...
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