Blackstone to buy majority stake of ed-tech platform Simplilearn
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Blackstone the global private equity giant has entered final stage negotiations to acquire a majority stake in Simplilearn, a leading online learning bootcamp for digital skills training, according to multiple industry sources.
Based in San Francisco, United States and Bengaluru, India, Simplilearn is backed by Kalaari Capital, Helion Venture Partners and Mayfield Fund.
"Blackstone will acquire a controlling stake in Simplilearn in a transaction which gives the combined firm an enterprise value of $350 million. An official announcement is expected shortly," said one of the individuals cited above.
Simplilearn has raised $28 million so far from Kalarai Capital, Helion Venture Partners and Mayfield Fund. Its Series A of $3 million was in 2012, Series B of $10 million in 2013 and the last round of $15 million was sealed in 2015.
Founded in 2010, Simplilearn provides online training in disciplines such as Cyber Security, Cloud Computing, Project Management, Digital Marketing, and Data Science, among others. It offers courses in partnership with top global universities and according to its website, it has helped over two million professionals, and companies across 150+ countries get trained, acquire certifications, and upskill their employees.
