Coursera Acquires Udemy For $930 Million

Coursera announced on Wednesday that it will acquire rival online learning platform Udemy in an all-stock deal that values the combined company at $2.5 billion, a move that brings together two of the largest U.S.-based players in an industry that has struggled since pandemic-era enrollment highs faded. Under the terms of the agreement, Udemy shareholders will receive 0.8 shares of Coursera for each share they hold, valuing Udemy at roughly $930 million. Based on Coursera's last closing price, the offer works out to $6.35 per Udemy share, an 18.3% premium. The deal is expected to close in the second half of next year, pending regulatory and shareholder approvals.

The two companies are betting that a combined platform will be better positioned to pursue corporate customers seeking to retrain workers in artificial intelligence, data science and software development. Coursera has built its business on partnerships with universities and institutions to offer degree programs and professional certificates, while Udemy operates a marketplace where independent instructors sell courses directly to consumers and businesses. Both stocks have significantly underperformed this year. Udemy shares have fallen about 35% and Coursera is down roughly 7%, leaving both trading well below their post-IPO highs as investors remain cautious about competition and pricing pressure in the sector.

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