upGrad, Asia’s higher edtech major, has got its hands on KnowledgeHut, a globally renowned edtech company and this acquisition comes after the former spearheaded a non-linear growth for the next seven to nine months with a surge of $ 250 million under Mergers & Acquisitions. With this KnowledgeHut is now rebranded as a subsidiary under upGrad.

On looking KnowledgeHut, the edtech firm founded by Subramanyam Reddy in 2011, is induced with an aim to nudge workforces around the world with futuristic skills through outcome-based immersive learning.

Since the edtech firm already has a proven record of providing training for 2,50,000 professionals including providing empowerment of over 500 enterprises on result driving skills, and a product offering of over 200 courses across in-demand areas of Web Development, Machine Learning / AI and Data Science, Agile and Project Management, IT Service Management, Cyber Security and Cloud Computing.

It’s no wonder that upGrad chose this edtech firm to dwell into the short-term upskilling and reskilling segment, as it holds a market potential of more than $ 58 billion.

Now rebranded into upGrad, KnowledgeHut will leverage the market opportunity by providing learners a scalable and immersive learning model that will enable learners to upskill and draw meaningful career outcomes.

This translates to Knowledgehut being able to wholly operate as a subsidiary under upGrad and Mr.Reddy will take on his role as CEO.

KnowledgeHut plans to achieve the above through its trump card called PRISM, a futuristic flagship learning experience.

With KnowledgeHut’s global learner pool of 2,50,000 upGrad plans on using that pool. Whereas KnowledgeHut is set on flying past an INR of 300 crore in revenue next year, which is approximately $ 40 million. Secondly, 65 percent will be from countries such as North America, Middle East, and South-East Asia.

“With our focus on short-term professional upskilling, KnowledgeHut is driving outcome-based immersive learning for global technologists and the wider professional community. Given our position in global markets, this synergy with upGrad will further strengthen and support that vision”, adds Mr.Reddy, the now CEO of upGrad KnowledgeHut.

He further went on to say that, “the acquisition paves the way for upGrad to empower B2B customer segments across geographies including the United States and the Asia Pacific”.

On the whole, the acquisition comes after India’s edtech sector witnessed a definite consolidation across segments. As it’s been viewed that there are a lot of deals happening for months and most of them pertain to funding announcements.