upGrad Signs Term Sheet to Acquire Unacademy in All-Stock Share Swap Deal

Edtech firms upGrad and Unacademy have signed a term sheet for upGrad to acquire Unacademy in an all-stock, 100 percent share-swap deal. The valuation will be disclosed after the transaction closes and regulatory filings are completed. Unacademy founder Gaurav Munjal will remain as co-founder and CEO, focusing on online education products. The deal aims to consolidate their offerings amid sector challenges, combining upGrad's lifelong learning model with Unacademy's K-12 and language-learning platforms.