Simplilearn eyes $200 mn revenue; buys US company

The acquisition, said the company, will help it drive revenue growth to $200 million by FY24, of which 70 per cent is likely to come from global markets.

DT NEXT Bureau

Updated:29th Nov, 2022 at 11:23 AM

BENGALURU: Edtech company Simplilearn on Monday announced that it has acquired a US-based bootcamp education company, Fullstack Academy, for an all-cash transaction. The company, however, did not disclose the acquisition amount.

The acquisition, said the company, will help it drive revenue growth to $200 million by FY24, of which 70 per cent is likely to come from global markets. “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,” said Krishna Kumar, founder-CEO, Simplilearn.

This will be the company’s second acquisition after Market Motive in 2015. Simplilearn said it has grown by over 60 per cent in the past year.

The company, which provides training for professional certification courses, last week raised $45 million in Series E funding round from a consortium led by GSV Ventures. Fullstack Academy has built strong partnerships with 20 university and industry partners, growing to over 7,000 alumni across the US.

Simplilearn eyes $200 mn revenue; buys US company

The acquisition, said the company, will help it drive revenue growth to $200 million by FY24, of which 70 per cent is likely to come from global markets.

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