India’s Simplilearn Acquires US-Based Full Stack Academy
BENGALURU, (IANS) – Edtech company Simplilearn has announced that it has acquired a US-based bootcamp education company, Full stack Academy, for an all-cash transaction. The company, however, did not disclose the acquisition amount.
The acquisition, said the company, will help it drive revenue growth to $200 million by FY24, of which 70 percent is likely to come from global markets.
“Through Full stack Academy’s wide-spread footprint in the US and its strong partnerships with top universities, we are confident that this collaboration will enable us to accelerate our global expansion plans,” said Krishna Kumar, Founder, and CEO, Simplilearn.
This will be the company’s second acquisition after Market Motive in 2015.
Simplilearn said it has grown by over 60 percent in the past year.
The company, which provides training for professional certification courses, last week raised $45 million in a Series E funding round from a consortium led by GSV Ventures.
Full stack Academy has built strong partnerships with 20 universities and industry partners, growing to over 7,000 alumni across the US. It also runs the ‘Grace Hopper Program’ with an aim to encourage women and nonbinary students to pursue tech careers.
Full stack Academy has over 300 employees spread across the US and is on track to deliver over $30 million in revenue this year.
“Simplilearn is the world’s No. 1 online digital bootcamp. I look forward to leveraging our shared vision with Simplilearn to bridge the digital skills gap in the US market,” said Jerrad Tausz, CEO of Full stack Academy.