Edureka is a Live Instructor Led Online Solutions Provider for the IT Industry and is 100% takeover This is Veranda Learning Solutions’ second purchase since December 2020. Veranda is planning an outlay of about $100 million for the acquisition over the next six months to capitalize on the edtech space.
“We want to expand the number of students trained in India,” said Kalpana Suresh, Executive President, Veranda Learning Solutions. “Various bodies are estimating that the skills gap is running in the millions and clearly this challenge is being seen. IT consulting companies in India should be able to continue exploring resources in India for their own expansion. We plan to be able to significantly increase the number of students we train in terms of and we will again adopt a multi-modal approach. There will be a strong push for hybrid learning.”
Veranda last year acquired the online business of Chennai Race, a coaching institute for banking, SSC and PSC exams, and launched Veranda Race. The company has also launched programs for CA and IAS aspirants this quarter under the brands of Veranda CA and Veranda IAS respectively.
“Veranda is in active discussions with multiple targets for acquisition to create a multi-modal platform that spans test preparation, upskilling and complementary learning,” Suresh said. “With the current acquisition, we are poised to expand our footprint into Europe and North American markets as well. It is exciting to be back in software education and it is important for us to again help us meet the growing demand for high-end skills in the country. Sets the stage for the role to be played.”
Established in 2011 by Lovleen Bhatia and Kapil Tyagi, Edureka is known for its live online class based upskilling programs for working professionals. Edureka partners with leading Indian institutions such as IITs, NITs, and international universities such as Purdue to provide training in cloud computing, DevOps, AI-ML, data science, web development, cyber security, and other emerging technologies in addition to its library of training resources is partner.
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Of the total student base, approximately 44 percent are international students spread across 85 countries. It currently has over 1 lakh subscribers who are trained by over 500 instructors to offer around 300 courses.