BYJU’S announces strategic partnership with Aakash
The world’s leading ed-tech company, BYJU’s announced its strategic partnership with a leader in test prep services, Aakash Educational Services Limited (AESL).
Combining Aakash’s pedagogy expertise in the test-prep segment with BYJU’S content and tech capabilities, this partnership brings together two of the largest and most-trusted education brands in India. BYJU’S will make further investments after the integration to accelerate Aakash’s growth.
Aakash has built an effective learning ecosystem with over 33 years of experience and that has helped millions of young aspirants get into the country’s best institutions. To create India’s largest digitally enabled, omnichannel test preparation company, AESL partnered with Blackstone in 2019. It will continue to function independently, under the phenomenal leadership of Founder JC Chaudhry and Aakash Chaudhry.
Byju Raveendran, Founder, and CEO, BYJU’S said, “I am happy to have Aakash Educational Services Limited (AESL), a market leader and the most trusted name in the test prep services, on board with us. Our complementary strengths will enable us to build capabilities, create engaging and personalised learning programs. The future of learning is hybrid and this union will bring together the best of offline and online learning, as we combine our expertise to create impactful experiences for students.”
Byju further added, “The pandemic has brought the importance of the blended format of learning to the forefront. As we unite our forces to bring together decades of expertise and experience, this partnership will further accelerate Aakash’s growth and success.”
Aakash Chaudhry, Managing Director, AESL said “At Aakash, we are looking to transform student experiences by steering innovative and digitally-enabled learning solutions. Together with BYJU’S, we will work towards building an omni-channel learning offering that will accelerate test-prep experience to the next level. While this partnership will enhance our operational verticals, Aakash will continue to operate as a separate entity with the same passion and commitment with which it’s Founder & Chairman Mr. J C Chaudhry incepted it. We are excited to partner with BYJU’S, and will strive to deliver long-term value to our students, employees, investors, and other stakeholders.”
BYJU’S product offering will strengthen with the addition of Aakash. By adding more verticals, subjects, and languages to the same platform, reiterates the company’s focus on creating impactful learning products for students.
Amit Dixit, Co-Head of Asia Acquisitions and Head of India Private Equity at Blackstone, said “We invested in AESL because it is one of the leading education brands in India with a professional management team, best-in-class corporate governance and a 33-year track-record of exceptional results. We have always believed omnichannel will be the winning model in test prep and tutoring, and we look forward to being a part of the partnership between the two foremost companies in Indian supplementary education – Aakash and BYJU’S. The combination of Aakash and BYJU’S is highly synergistic and we are excited to help build India’s largest education company”
Aakash provides test preparatory services with its 215+ centres to students preparing for medical and engineering entrance exams, school/board exams, KVPY, NTSE, Olympiads, and other Foundation level exams. Aakash has built a tradition of excellence and has helped millions of students embark on successful learning journeys and it is known for its integrated teaching methodology and focused learning environment.
Launched in 2015, BYJU’S is the leader in offering personalised learning programs for school students in India. With over 80 million students cumulatively learning from the app, 5.5 million annual paid subscriptions, and an annual renewal rate of 86%, the app creates personalized learning programs for individual students based on their proficiency levels and capabilities which help them learn at their own pace and style. In just 6 months during the lockdown, BYJU’S has added 45 million new students to its platform.
Over the years, Aakash has built and maintained the highest standards of teaching, result-oriented test preparation for some of the toughest entrance exams like JEE, NEET, NTSE etc. with its expert faculty. Unified by a shared vision to create value for the student community and boost the learning ecosystem, this integration will help accelerate and scale Aakash’s growth in the test prep industry.
EY was the exclusive financial advisor for BYJU’S on this transaction. Phoenix Advisors was the exclusive advisor for the AESL.