CCI Approves upGrad's Proposed Acquisition Of Stake In Unacademy Parent

The Competition Commission of India has approved the proposed acquisition of certain shareholding in Sorting Hat Technologies Private Limited, which operates Unacademy, and its subsequent merger with and into upGrad Education Private Limited.

According to a press release issued on Tuesday, the transaction involves the acquisition of certain shareholding in Sorting Hat Technologies, followed by its merger with upGrad Education.

The Commission noted that upGrad Education has direct and indirect presence across the formal and non-formal education sectors, while Sorting Hat Technologies has direct and indirect presence in the non-formal education sector.

The Commission said that a detailed order will follow.