Byju's has acquired Austria-headquartered GeoGebra, the latest in a series of purchases by the Indian edtech giant this year as it scales its online learning platform across the globe.
A source familiar with the matter said the deal size is about $100 million and includes both cash and stock. Byju's didn't comment.
Over 100 million students are reached by the interactive and collaborative mathematics learning tool of eight-year-old GeoGebra. Both enterprises and philanthropic non-profit organisation can access the platform's service at no charge. Byju said that the current apps and web services will be free after the acquisition.
A passion to help students learn math in a visually appealing and engaging manner is what led to the creation ofGeoGebra. Our shared passion for learning and teaching makes us a perfect partner for our journey. I am confident that this partnership will help millions of students learn mathematics in an interactive way, in turn making them overcome their fear of math, and learn to master it, said Markus Hohenwarter, co-founder of GeoGebra in a statement.
Byju said that the acquisition enhances its product strategy. The most valuable Indian startup will make math more engaging for its students by integrating the offerings of GeoGebra.
The platform built by the team at GeoGebra is compatible with BYJU's mission of providing impactful learning for students. The Chief Strategy Officer of Byju's said that it is designed to improve mathematical understanding and that it has interactive resources that adapt to every child's style and pace of learning.
With the help of innovative teaching and technology, Byju's has been making math fun, visual, and engaging. We will continue to enhance, reimagine and transform the way math is taught and learned with the help of GeoGebra. We will have a larger reach and the best resources to build innovative and exciting learning formats.
Byju's has made a number of purchases this year as it looks to fill the whitespaces in its offerings. The Bangalore-headquartered startup has acquired a number of companies for over $2 billion.
Byju Raveendran, the founder and chief executive of Byju's, said in an earlier interview that the firm is still looking for more merger and acquisition opportunities. Byju's is exploring an initial public offering next year. Morgan Stanley is one of the bankers that has pitched a $50 billion valuation to Byju's.
