Byju’s has acquired Austria-headquartered GeoGebra, the latest in a series of purchases by the Indian edtech giant this year as it grows its online learning platform around the world.
Neither firm disclosed the purchase price, but a source familiar with the matter said the deal size is about $100 million and includes both cash and stock. Byju declined to comment.
eight years old geogebra Operates an interactive and collaborative math teaching tool and reaches over 100 million students in over 195 countries and territories. The platform offers its service to both enterprises as well as philanthropic non-profit organisations, the latter of which uses GeoGebra at no charge. Byju’s said GeoGebra’s existing apps and web services will continue to be available for free after the acquisition.
“GeoGebra was born out of a passion for helping students learn maths in an engaging and engaging way. Our shared passion for learning and teaching resonates with BYJU’S, making them the perfect partner for our journey ahead. I am confident that this partnership will help millions of students learn math in an interactive way, in turn helping them overcome their fear of math and master it,” said Marcus Hohenwerter, co-founder of GeoGebra, in a statement. said.
Byju’s said the acquisition of GeoGebra is a “complement” to its product strategy. The most valuable Indian startup will integrate GeoGebra’s offerings with its products to “make maths more attractive” for its students.
“The GeoGebra team has created a powerful and stimulating platform that fulfills Byju’s mission of providing impactful learning for students. Designed to improve mathematical understanding, it provides key features that provide interactive resources which are adapted to the style and pace of learning of every child,” Anita Kishor, Chief Strategy Officer, Byju’s said in a statement.
“At BYJU, with the help of innovative teaching and technology, we are making mathematics fun, visual and engaging. And with GeoGebra on board, we will continue to further improve, re-imagine and change the way math is taught and learned. With our combined strength, we will have a wider reach and the best resources to create new and exciting formats of learning for the new generation,” she said.
GeoGebra is the latest in a series of purchases made by Byju’s this year as it seeks to fill in the blanks in its offerings. The Bangalore-headquartered startup has also acquired Tyker, Scholar, Aakash Institute, Hashlearn, Epic, Great Learning and Gradeup in over $2 billion in cash and equity deals.
Byju Raveendran, founder and chief executive of Byju’s, told Nerdshala in an earlier interview that the firm is still looking for more merger and acquisition opportunities. Meanwhile, Byju’s is also exploring an initial public offering as early as next year. Nerdshala was the first to report that some bankers, including Morgan Stanley, have valued Byju’s at $50 billion.