Blackstone has entered into a definitive agreement to acquire a controlling stake in Bengaluru-based edtech startup Simplilearn. According to sources, the deal size is pegged at $250 million.

Founded in 2010 by Krishna Kumar, Simplilearn has been profitable for the fourth year in a row, the company said in a statement. The platform offers over 100 programs to help early to mid-career professionals acquire new-age digital skills across Cloud, DevOps, Data Science, Artificial Intelligence & Machine Learning, Digital Marketing, Cyber Security, and many more.

Krishna Kumar, Founder & CEO, Simplilearn, said, the pandemic has only accelerated the need for digital skills and the industry has demonstrated absolute readiness for upskilling online. Hence, this is the most opportune time to take the next big leap in our journey to build the world’s largest digital skilling company.

 Read more/Source: YourStory