Online courses learning platform, Simplilearn has announced the acquisition of US-based bootcamp education firm Fullstack Academy for an all-cash transaction. The company has not disclosed the deal amount. This acquisition will help Simplilearn drive revenue increase to $200 million by the financial year 2024, of which 70% would be likely from the worldwide market.
“Through Fullstack Academy’s wide-spread footprint in the US and its strong partnerships with top universities, we are confident that this collaboration will enable us to accelerate our global expansion plans,” said Krishna Kumar, Founder, and CEO, Simplilearn.
This will be the company’s second acquisition after Market Motive in 2015. Simplilearn said it has grown by over 60 percent in the past year.
The company, which provides training for professional certification courses, last week raised $45 million in Series E funding round from a consortium led by GSV Ventures.
Fullstack Academy has built strong partnerships with 20 university and industry partners, growing to over 7,000 alumni across the US. It also runs the Grace Hopper Programme’ with an aim to encourage women and nonbinary students to pursue tech careers.
Fullstack Academy has over 300 employees spread across the US and is on track to deliver over $30 million in revenue this year.
“Simplilearn is the world’s No. 1 online digital bootcamp. I look forward to leveraging our shared vision with Simplilearn to bridge the digital skills gap in the US market,” said Jerrad Tausz, CEO of Fullstack Academy.
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