UpGrad, a platform for higher education, announced that it had bought Harappa Education for Rs 300 crore ($38 million) in cash and equity.
This will be upGrad’s tenth purchase in the previous 2.5 years, or since January 2020, under the direction of Ronnie Screwvala.
“A combination of upskilling courses along with these critical skills that Harappa has to offer would set us apart. We see strong demand from our clients and with Harappa coming in, we believe we’ll be able to grow exponentially within the segment as we cross-leverage the synergies,” said Ronnie Screwvala and Mayank Kumar, Co-founders of upGrad.
The deal between upGrad and the shareholders of Harappa, which also included Bodhi Tree Systems and co-founders Pramath Raj Sinha and Shreyasi Singh, has been finalised. James Murdoch, the founder and CEO of Lupa Systems, and Uday Shankar, the former president of The Walt Disney Company Asia Pacific, have just established a platform called Bodhi Tree Systems.
“As a combined force, Harappa and upGrad will anchor our purpose and conviction to create a truly wholesome learning ecosystem for lifelong learners in India and abroad, with our time-tested pedagogy, flagship programs, and rich partnerships to guarantee unmatched outcomes for our learners and clients,” said Sinha and Singh, Founders of Harappa.