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US listed company 2U has concluded the acquisition of edtech startup GetSmarter for $103-million.
GetSmarter’s acquisition by 2U was announced in May. In a press release sent to Ventureburn today, GetSmarter said the deal would accelerate growth and enable it to offer in demand career opportunities.
“We now have an even stronger base from which to realise our full potential globally, which will only further enhance confidence in the broader South African technology ecosystem,” GetSmarter CEO and founder Sam Paddock (pictured right) said in the release.
GetSmarter R1.4-billion acquisition is one of the biggest for a South African startup
GetSmarter, which was founded in 2008 by brothers Sam and Rob Paddock, delivers short-term online certification courses to distance-learning students in partnership with a number of top universities.
“We are thrilled to join forces with GetSmarter which will accelerate 2U’s growth, extend our global footprint, and provide a dynamic suite of short course offerings that meet the needs of students from more than 150 countries around the world,” said 2U co-founder and CEO Christopher Paucek.
Featured image (pictured form left to right): GetSmarter founders Rob and Sam Paddock.