Simplilearn; a higher ed-tech platform acquires US-based Fullstack Academy.

Founded in 2010, Simplilearn offers digital skilling programs for professionals, enabling them to upskill and get certified in fast-growing digital domains. Simplilearn claims to have added more than 1.2 million paid business-to-consumer (B2C) learners, and more than 1 million enterprise learners on its platform. It also claims to have more than 2 million free learners on its SkillUp platform.

Higher edtech platform Simplilearn, promoted by private equity firm Blackstone, has bought US-based Bootcamp education company Fullstack Academy as it looks to strengthen its business in North America. The acquisition comes at a time when competition in the higher learning and upskilling space is intensifying amid a downturn in online learning.

Simplilearn has bought Fullstack in an all-cash deal from its US-based publicly traded parent entity Zovio Inc. Zovio Inc has been trying to hive off Fullstack since September. According to Zovio Inc’s filings with the Securities and Exchange Commission (SEC) on September 20, it was looking to garner $34-$55 million from the sale of Fullstack. However, Simplilearn did not disclose the value of the transaction.

The acquisition of Fullstack will give Simplilearn access to over 20 university and government partnerships across the country, Simplilearn said in a statement on November 28. Fullstack Academy is a premium Bootcamp provider that also has offerings in web development, cybersecurity, product management, DevOps, and data analytics, among others.

Fullstack’s acquisition will also help Simplilearn to scale its presence in the Bootcamp space and drive revenue growth to $200 million by FY24 (2023-24), of which 70 percent is likely to come from global markets, the company said.

Simplilearn reported operating revenue of Rs 479.7 crore in FY22, up from Rs 340.9 crore in FY21. In a recent media interview, Krishna Kumar, founder and CEO (Chief Executive Officer) of Simplilearn, had said that he expects the company’s revenue to top Rs 1,000 crore in FY23.

Fullstack Academy has over 300 employees spread across the US, Simplilearn said, adding that Fullstack is expected to top $30 million in revenue this year. Following the transaction, all Fullstack Academy employees will remain in their roles as part of the combined organization, taking Simplilearn’s total employee count to over 2,500, Simplilearn said. Fullstack Academy will continue to serve its students and partners as an independent business unit within Simplilearn.

Fullstack will be Simplilearn’s second acquisition since 2015 when it bought Market Motive, a platform that trains working professionals on digital marketing. Simplilearn claims to have grown more than 60 percent in the past year. Earlier this month, it raised $45 million in a new funding round led by GSV Ventures at an undisclosed valuation.

Founded in 2010, Simplilearn offers digital skilling programs for professionals, enabling them to upskill and get certified in fast-growing digital domains.

Simplilearn claims to have added more than 1.2 million paid business-to-consumer (B2C) learners, and more than 1 million enterprise learners on its platform. It also claims to have more than 2 million free learners on its SkillUp platform. In July 2021, Blackstone acquired a majority stake in Simplilearn.