Online education provider Byju's on Wednesday announced that it has acquired Epic, a digital reading platform for children. Byju's has done this deal for $ 500 million, according to Indian currency, Rs 3,700 crore. A statement issued by Byju's said that Epic CEO Suren Markosian and co-founder Kevin Donahue will continue in their roles. Earlier, Byju's had acquired Aakash Educational Services for $1 billion.
Byju's will invest $1 billion to further strengthen its position in the North American market. A statement issued by Byju's said that it has acquired Epic, a digital platform for reading books for children 12 years and under, for $ 500 million.
The acquisition of Epic will help Byju's strengthen its position in the United States by providing access to Epic's existing user base of over two million teachers and over 50 million children worldwide. The number of users of the company has more than doubled compared to the previous year.
Byju Raveendran, Founder and CEO, Byju's, said in a statement that, "Our partnership with Epic will enable us to create engaging and interactive reading and learning experiences for children globally. Our mission is to foster curiosity and inspire students. Creating an interest in learning. Epic and its products share a common mission, so this move was naturally right. We have an opportunity to create impactful experiences for children to become lifelong learners."
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