BYJU’S needs to pay Rs 2,000 cr to clear Aakash acquisition deal

by: Sayantan Barua

BYJU'S needs to pay Rs 2,000 cr to clear Aakash acquisition deal

BYJU’S needs to pay Rs 2,000 cr to clear Aakash acquisition deal

by: Sayantan Barua

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TW Newsdesk, September 16: Edtech giant BYJU‘s is set to pay the remaining amount of around Rs 2,000 crore to VC firm Blackstone in the $1 billion take over of Aakash Educational Services on September 23.

According to BYJU’s financial report FY21, “as per the terms of the siging for the acquisition of Aakash Educational Services, consideration to the extent of Rs 1,983 crore was due to be paid by the company to the sellers in June 2022. This has been deferred to September 23, 2022”. Blackstone has around 38 percent stake in Aakash and BYJU’s has paid nearly 75 percent of the Aakash acquisition amount.

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