Indian edtech firm Byju’s has denied it is attempting to acquire fellow edtech company Unacademy, following reports the company’s Aakash unit was in talks with the start-up regarding a merger. Byju’s said it was focused on investment in Aakash Educational Services, which it acquired last year for around $1bn, and “absolutely no discussions” regarding a merger with Unacademy were in place. Unacademy, backed by SoftBank and valued at $3.44bn, has reduced expenses to drive profitability. Byju’s, India’s most valuable start-up, is looking to list Aakash after board approval, with Citigroup and Goldman Sachs advising.
Byju’s denies reports of potential acquisition of Unacademy.
