UPGRAD ACQUIRES IMPARTUS IN ₹150-CRORE DEAL

Online education platform upGrad has acquired Impartus, a video-learning solutions provider, for ₹150 crore, in a cash and stocks deal as it looks to distribute its courses to colleges and other educational institutions. The acquisition will give an exit to Impartus’ existing investor Kaizen, which had invested $4.1 million in the startup in 2015. Almost ₹50 crore of the proceeds will be used as a further investment to scale the Impartus platform this fiscal year. Post the acquisition, Impartus will be rebranded as upGrad Campus, which will focus on providing learning tools to higher education institutions and colleges. Impartus co-founder Amit Mahensaria will take over as chief executive of upGrad Campus, and the subsidiary will continue to operate independently. Impartus currently provides a video-learning platform, helping colleges to shift to virtual classes.