- November 6, 2023
- Posted by: legaleseblogger
- Category: Related News
legal-document-to-plain-english-translator/”>Try Free Now: Legalese tool without registration
People walk past an advertising hoarding of Byju’s, an Education Technology company and one of India’s biggest startup, outside one of its branch in New Delhi, India, June 23, 2023. REUTERS/Adnan Abidi/File Photo Acquire Licensing Rights
Indian Ed-Tech Firm Byju’s in Talks to Sell Kids’ Digital Reading Platform
BENGALURU, Nov 6 (Reuters) – Byju’s, an Indian education technology company, is reportedly in advanced negotiations to sell its U.S.-based kids’ digital reading platform Epic! Creations for approximately $400 million to private equity fund Joffre Capital. This move comes as Byju’s seeks additional funds to alleviate its financial pressures.
According to Bloomberg News, Byju’s aims to raise up to $1 billion by selling two of its subsidiary companies, including Great Learning and Epic, as part of its effort to streamline its business operations and repay lenders. The potential sale of Epic would contribute to funding Byju’s disputed $1.2 billion term loan. Duolingo, a company specializing in the design and development of mobile learning platforms, has also expressed interest in acquiring Epic.
The report mentions that Moelis and Co. is overseeing the sale process for Epic, and a potential agreement could be reached by the end of this month. As Byju’s continues to face challenges, including the departure of its auditor and board members, the company is actively
legal-document-to-plain-english-translator/”>Try Free Now: Legalese tool without registration
****** just grabbed a