Vedantu's acquisition information is 100% false, the company says

After Toppr, Bengaluru-based edtech major Byju's is reportedly in talks to purchase edtech startup Vedantu for around $700-800 million. Prior to this, The edtech startup had acquired Toppr and Great learning in a cash and stock deal.

The story was first reported by Entrackr, citing its sources, that the company is in advance talks to close up the deal for around $700-800 million.

However, Vedantu officially marked the acquisition information as false and said they are not engaging with any company for any such deal. "This information is 100% absolutely false and V are not doing or even remotely considering anything of this sort," the company tweeted.

A Vedantu spokesperson said, “This information is completely false and no such discussions have taken place with Byju’s and we are not considering anything like this.”

The Entrackr report also added Vedantu has also been in conversations with new and existing investors to raise a new round at a valuation of nearly $1 billion. Byju's declined to comment on the speculation.

Byju's acquisition announcements are not surprising. A decade-old edtech startup, which raised more than billion-dollar funding this year, had acquired eight edtech startups this year, including Whodat, Epic, Gradeup, Great Learning, AESL, Hashlearn, Toppr, and Scholr.

The most recent acquisition was of Toppr, Great Learning, Whodat, and Epic, combining total deal amount more than $500 million. So far, the startup had acquired 14 startups, acc. to CrunchBase.

Last month, Vedantu announced it is acquiring majority stakes in subscription-based test platform Pedagogy, for an undisclosed amount. The announcement came amid after closing its $100 million funding round.

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