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Simplilearn acquires US-based Fullstack Academy; aims to achieve revenue of $200 million by FY24

Simplilearn has grown exponentially by over 60% in the past year, an official release said.

Simplilearn acquires US-based Fullstack Academy; aims to achieve revenue of $200 million by FY24
Following the sale, all Fullstack Academy employees will remain in their roles as part of the combined organisation.

Digital skill training platform, Simplilearn has announced that it has acquired a United States (US) based bootcamp education company, Fullstack Academy, for an all-cash transaction. This will be the company’s second acquisition after Market Motive in 2015. Simplilearn has grown exponentially by over 60% in the past year, an official release said.

The news of the Fullstack Academy acquisition comes right after the latest funding by the GSV led consortium. The acquisition will enhance Simplilearn’s scale and presence in the bootcamp space and drive revenue growth to $200mn by FY24, of which 70% is likely to come from global markets, the release said.

According to the release, Fullstack Academy is a bootcamp provider that has expanded its offerings, introducing new bootcamp programmes in Web Development, Cybersecurity, Product Management, DevOps, Data Analytics, and other disciplines. Over the years, the company has built strong partnerships with twenty university and industry partners, growing to over 7,000 alumni across the U.S, the release said. The academy further runs Grace Hopper Programme with an aim to encourage women and nonbinary students to pursue tech careers.

Following the sale, all Fullstack Academy employees will remain in their roles as part of the combined organisation, bringing Simplilearn’s total employee count to over 2,500. Fullstack Academy will continue to serve its students and partners as an independent business unit within Simplilearn.

“Through Fullstack Academy’s wide-spread footprint in the U.S. and its strong partnerships with top universities, we will be able to accelerate our global expansion plans. We are certain we will be able to leverage each other’s capabilities synergisitically to build a strong company,” Krishna Kumar, founder, CEO, Simplilearn, said.

Further, Jerrad Tausz, CEO, Fullstack Academy said that it shares an aligned mission of transforming lives by helping students from all backgrounds and skill sets learn the technical skills needed to secure in-demand jobs.

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First published on: 28-11-2022 at 17:30 IST