Simplilearn Solutions on Monday said Blackstone will acquire a majority stake in the edutech company for USD 250 million (about Rs 1,860 crore). Private equity funds managed by Blackstone have entered into a definitive agreement to acquire a controlling stake in Simplilearn Solutions, a statement said. Simplilearn founder and CEO Krishna Kumar said Blackstone is investing USD 250 million in the company. The previous investors - Kalaari Capital, Helion Venture Partners and Mayfield Fund - have exited now, but the management of Simplilearn remains the same and their stake will also remain unaffected, he told PTI. Details of the quantum of the stake being bought and valuation of Simplilearn were not disclosed. Simplilearn was founded in 2010 and the company has been profitable for the fourth year in a row. The platform offers over 100 programmes to help early to mid-career professionals acquire new-age digital skills across cloud, DevOps, data science, artificial intelligence and ..
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