<article>Education technology company <a href="http://dealstreetasia.com/tag/aeon-learning" target="_blank" rel="noopener">AEON Learning Pvt Ltd</a> has acquired Acadgild, which offers high-end tech skills to mid-career IT professionals, for $10 million in an all stock deal.</article>

Education technology company <a href="http://dealstreetasia.com/tag/aeon-learning" target="_blank" rel="noopener">AEON Learning Pvt Ltd</a> has acquired Acadgild, which offers high-end tech skills to mid-career IT professionals, for $10 million in an all stock deal.
Bengaluru-based AEON Learning offers technology to universities for their courses through its platform <a href="http://dealstreetasia.com/tag/avagmah" target="_blank" rel="noopener">Avagmah</a>. The company, which is backed by investors such as Infosys co-founder S Gopalakrishnan, Sri Hari of Lion Rock Capital, Atul Nissar of Aptech and Meena Ganesh, has raised a cumulative funding of $6.5 million.
Acadgild, on the other hand, received initial investment from venture capital firm <a href="http://dealstreetasia.com/tag/jupiter-capital" target="_blank" rel="noopener">Jupiter Capital</a>, Enki and K Ganesh of GrowthStory.
Post the acquisition, Vikalp Jain, co-founder of Acadgild, will join AEON Learning as President.
&#8220;There are clear synergies in the business processes and target markets of both Avagmah and Acadgild and this acquisition puts us in a formidable position to address both education and reskilling needs of working professionals and will help us grow and scale faster than ever,&#8221; said Jain in a statement.
India’s online education market is expected to grow to $1.96 billion and about 9.6 million users by 2021 from $247 million and about 1.6 million users in 2016, according to a report by KPMG and Google Inc published in May.
Education technology sector has been seeing strong activity in the last past couple of years. Recently, <a href="http://dealstreetasia.com/tag/neostencil" target="_blank" rel="noopener">NeoStencil India Pvt. Ltd</a>, which runs online learning platform for competitive exams, has acquired analytics-based test practice portal <a href="http://dealstreetasia.com/tag/testcafe" target="_blank" rel="noopener">TestCafe</a>.
Startups in the space have also attracted tremendous investor interest. Last month, education technology startup <a href="http://dealstreetasia.com/tag/toppr" target="_blank" rel="noopener">Toppr</a> raised $7 million in its second round of Series B funding led by existing investors SAIF Partners, Helion Ventures and FIL Capital Management. Prior to that, <a href="http://dealstreetasia.com/tag/unacademy" target="_blank" rel="noopener">Unacademy</a> raised $11.5 million in its Series B round led by venture capital firms Sequoia India and SAIF Partners with participation from existing investors and angels including Nexus Venture Partners and Blume Ventures.
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Edtech company AEON Learning has acquired Acadgild, which offers high-end tech skills to IT professionals for $10 million in an all stock deal.

India: Edtech firm AEON Learning acquires Acadgild for $10m

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India: Edtech firm AEON Learning acquires Acadgild for $10m

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