CCI Nods For Merger Of Coursera Unit With Udemy; Coursera To Acquire Sole Control

The Competition Commission of India (CCI) on Wednesday approved the proposed merger of Chess Merger Sub, a wholly owned subsidiary of US-based education technology company Coursera Inc., with online learning platform Udemy Inc., a transaction that will result in Coursera acquiring sole control over Udemy.

The proposed combination involves the merger of Udemy Inc. with Chess Merger Sub, a newly incorporated wholly owned subsidiary of Coursera Inc., with Udemy surviving as a wholly owned subsidiary of Coursera after the merger.

Upon completion of the transaction, existing Coursera stockholders are expected to hold approximately 59% of the combined company, while existing Udemy stockholders will hold about 41% on a fully diluted basis.

Coursera is a Delaware-incorporated, publicly listed global education technology company that operates an online learning platform, with its operations in India primarily through cross-border digital delivery, including through its subsidiary Coursera India Private Limited.

Udemy, also incorporated in Delaware, operates a global online learning and teaching marketplace and delivers its services entirely through digital platforms.

The Commission said a detailed order will follow.