ATLANTA – (COMMERCIAL THREAD) – upGrad, the integrated leader in higher education in Asia, has entered into an exclusive acquisition agreement with Global Study Partners (GSP), Australia’s largest study abroad company, with the aim of strengthening its educational network abroad. upGrad will invest $ 16 million to purchase 100% of GSP and commit an additional $ 10 million for future growth. GSP is expected to close its current financial statements at a GMV of over US $ 10 million, which will quadruple in the coming year.
Following the impact of the COVID-19 pandemic, 45.2% of potential students worldwide are now interested in studying their program virtually as an alternative, according to The Impact of COVID 19 on Study Abroad. Canada’s ApplyBoard in the same segment was recently funded at a valuation of $ 4 billion. Building on this change in behavior, upGrad’s acquisition of GSP strengthens its foray into study abroad, one of the fastest growing segments in the world.
Founded in 2015 and based in Sydney, Global Study Partners (GSP) boasts a vast network of institutions of over 600, with a focus on countries such as Australia, UK, Canada and the United States, which are among the most popular studies. Destinations abroad in the world. GSP is also armed with over 1,300 recruiting partners, including education and migration officers, schools, test preparation centers, alumni associations, and more.
“As an integrated EdTech leader – we cover the full spectrum of the needs of a learner aged 18 to 50 and in this, studying abroad is a key growth initiative for us – not just outside of it. India which is one of the two biggest markets but also for our international learners. The arrival of GSP in the fold of upGrad will allow us to take a head start and also to be a world leader in this segment “, noted Ronnie Screwvala, President and Co-Founder, upGrad.
Elaine Starkey, CEO and Founder, Global Study Partners, noted “I couldn’t think of a more complementary company that relies on shared principles and ethics “to empower learners around the world.” Ronnie and Mayank are true visionaries with a deep understanding of the industry and truly understand that “it’s all about the experience of the learner”. GSP partners – institutions and recruiting partners – around the world, will reap the benefits that the additional reach and capacity of the GSP can now offer, and they can expect significant growth in quality student enrollments.”
Students opting for higher education abroad from India are growing rapidly and are expected to reach around 1.8 million by 2024, according to the Redseer report. They would spend between 75 and 85 billion dollars abroad, because Online appears to be the dominant channel for using these services.
“With 150,000 students each year, Australia is one of the largest destination markets for Indian learners. With these two education giants in the key provider and demand markets joining forces, we seek to generate $ 100 million in study abroad revenue over the next 3 years., ” Gaurav Kumar, President – Business Development and M&A, upGrad.
upGrad – launched in 2015, is a pioneer in the online education revolution, focused on the professional success of a global workforce of over 1.3 billion people. It is one of the few integrated LifeLongLearning technology companies in the world – ranging from college student to working professional in the 18-60 age group and through undergraduate courses, campus-related programs. and for employment, study abroad, the short form for executive programs. to degrees, masters and doctorates – with a learner base of over 2 million in 50 countries and over 300 university partners and a strong company with a customer base of 1,000 companies worldwide.
UpGrad’s global learning engine is built on four pillars – (a) its vast repository of original and owned content and intellectual property, (b) its own first-class proprietary technology platform, (c) its high human intensity delivery supported by coaches and mentors, and (d) a track record of 85% course success, supported by 80% additional career results and guaranteed performance.
Already described as a leader in Top EdTech in Asia, it has offices in the UK, US, Middle East, India, Singapore and Vietnam, and a presence in many other countries.
Global Study Partners (GSP) is a leading global EdTech B2B marketplace for international student enrollment that works with more than 600 universities and higher education institutes around the world. GSP empowers students around the world by giving them access to the best educational choices when embarking on study abroad. Founded in 2015, the company is headquartered in Sydney, Australia, and has placed international students from 22 different countries in key study destination markets including Australia, UK, Ireland, United States and Canada. GSP is committed to transforming lives through education and creating a globally connected student community.