Edtech major upGrad has signed a term sheet to acquire rival Unacademy in an all-stock transaction, marking a significant consolidation in India’s education technology sector.
The proposed deal will be executed through a complete share swap, with the final valuation to be disclosed once the transaction is closed.
As part of the agreement, Unacademy co-founder Gaurav Munjal is expected to continue in a leadership role, ensuring continuity in operations and strategy within the combined entity.
The acquisition brings together two major players in the edtech ecosystem—upGrad, known for higher education and upskilling programmes, and Unacademy, which has built a strong presence in test preparation. The merger is expected to strengthen their combined capabilities across learning segments and expand their reach in both domestic and global markets.
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This development reflects a broader consolidation trend in the edtech sector, which has been undergoing a correction following rapid growth during the pandemic years. Companies are increasingly focusing on sustainability, profitability, and strategic alignment to navigate the evolving market landscape.
