upGrad, Asia’s largest higher edtech company announces the 100 per cent acquisition of corporate training solutions leader Centum Learning (“Centum”) in a share swap deal. Centum is expected to clock a revenue of Rs 170 crores (~USD 21 Mn) in financial year 2023, reads the official statement. With this transaction, Bharti Enterprises Limited and its affiliates (together ‘BEL’) are joining upGrad’s cap table.
Centum currently offers impact-based training to corporates as well as vocational, and educational training to schools and college learners to make them either self-employed or meaningfully employed. Headquartered in New Delhi, Centum was formed in 2007. With a total strength of over 2000 employees, Centum’s business will continue to operate independently under the leadership guidance of Sanjay Bahl, Managing Director, and CEO.
Through its proprietary Centum 5D™ training methodology and use of its Learning eXperience Platform (LXP)- Centum LearnPro®, Centum has been enabling 360-degree learning solutions right from entry-level professionals to mid-level leaders with direct and measurable business impacts. With over 3000 L&D specialists, Centum Learning has trained more than 2 million people while also impacting 400+ corporates across India and Africa, it claims.
In addition, Centum’s Africa operations boast a team size of over 50 local L&D professionals who are empowering millions with high-quality learning outcomes through customized vernacular training, content and digital learning platform, it added.
Commenting on the development, Mayank Kumar, Co-founder & MD, and Gaurav Kumar – President, Corporate Development of upGrad said, “Enterprise workforce upskilling is a supercritical need; however, the sector remains highly fragmented. upGrad has always seen enterprise upskilling as a strategic growth driver and we are making some nonlinear movements to reinvent B2B learning in India and create an integrated LifeLongLearning ecosystem for our stakeholders.”
“We are passionate about what we do. It gives us a great sense of pride in working with people to transform their lives and support the realization of their full potential. We have put in years of hard work building a bespoke training and content portfolio that makes new-age learning more immersive and outcome-oriented for both corporates & individuals. Both upGrad and Centum are committed to driving outcomes for their learners and therefore, I am excited about combining the two synergies for creating a scalable portfolio for continued results,” added Sanjay Bahl, Managing Director & CEO, Centum Learning.
“Both upGrad and Centum take great pride in transforming the lives of working professionals, and the trajectory of their companies through our dedicated focus on life long learning and personal growth. We are excited at the opportunity of combining our complementary skills to build a scalable portfolio across the value chain,” added Rajeev Vasudeva, Chairman, Centum Learning Ltd.
Read all the Latest Education News and Breaking News here