Indian decacorn BYJU’S is about to make its seventh acquisition, and this time, it could be one of the biggest edtech deals in the world. The country’s largest online education startup is likely to spend $1 Bn to acquire Blackstone Group-backed offline test prep major Aakash Education Services (AESL). In August 2020, BYJU’s acquired WhiteHat Jr, a coding platform for kids, for $300 Mn. But the AESL deal, if it goes through, could be a game changer for several reasons.
The Bengaluru-based eponymous brand thrives on K-12 online lessons and test prep modules and has seen a staggering rise in user traction as offline schools and coaching centres had to shut down due to the Covid-19 pandemic. But of late, key competitors like Unacademy have stolen a march on BYJU’S with their live tutoring for competitive exams. Interestingly, the entry of Unacademy and its live training modules have compelled BYJU’S to shift from its pre-recorded tutorials to a similar live-lesson format last…