Ed-tech platform upGrad acquired the International School of Engineering (Insofe), one of the top data science institutes in India, in a $33 million share swap deal.
This is upGrad's seventh purchase in the last two years. Insofe's management and investors will take a little less than 1% equity stake in upGrad, valued at $2 billion, as part of the transaction. Insofe, a leader in data sciences and artificial engineering courses, provides blended offline-online courses through two large facilities in Hyderabad and Bengaluru. The acquisition will give upGrad a competitive advantage in AI and ML courses, which are becoming increasingly popular in India as corporates and startups seek talent with these skills.