Edtech company Byju’s acquired Austria-headquartered GeoGebra.
GeoGebra will continue to operate as an independent unit within the Byju’s
Edtech major Byju’s announced the acquisition of Austria-based GeoGebra on Wednesday. According to people briefed on the matter, the acquisition will be a cash-and-stock transaction worth around $100 million. Byju’s made no comment on the size of the deal.
“This acquisition complements Byju’s overall product strategy and integrates GeoGebra’s capabilities to enable the creation of new product offerings and learning formats to its existing mathematics portfolio,” the company said in a statement.
GeoGebra will continue to operate as an independent unit within the Byju group, led by its founder and developer, Markus Hohenwarter, as part of the agreement.
GeoGebra, which has an expanding community of over 100 million learners in over 195 countries, has a dynamic, interactive, and collaborative mathematics learning tool, according to the company.
“The GeoGebra team has built a powerful and stimulating platform that complements Byju’s mission of providing impactful learning for students. Designed to improve mathematical understanding, it offers significant features that provide interactive resources that adapt to every child’s style and pace of learning,” Byju’s chief strategy officer Anita Kishore said.
“Together with our combined strengths, we will have a wider reach and the best resources to build innovative and exciting next-generation learning formats”, she added.
In the last few months, the Bengaluru-based startup has spent more than $2 billion on acquisitions in India and abroad.
Tynker, a K-12 creative coding platform, was acquired by Byju’s for an undisclosed sum in September. Byju’s announced a $500 million acquisition of Epic, a digital reading platform based in the United States, in July, as well as a $1 billion investment in the North American market over the next three years to expand its operations there.
It paid $600 million for Singapore-based Great Learning in July.
