upGrad acquires Unacademy in all-stock deal

Indian edtech company upGrad acquired rival Unacademy in an all-stock deal, consolidating two of India's largest online education platforms. The merger creates one of the largest edtech companies in Asia Both companies had seen declining valuations after the pandemic-era edtech boom faded. The consolidation is expected to reduce competition for students and allow the combined entity to cut overlapping costs. The deal reflects a broader trend of edtech consolidation in India, where dozens of startups that raised large funding rounds during COVID are now struggling to reach profitability.