Merger and Acquisation

Adda247 Acquires Ekagrata, Expands into INR 800 Crore CA Test Prep Market

• ByStartupStory     |    July 9, 2024

Google-backed Adda247, India’s premier multilingual learning platform, has announced the strategic acquisition of Ekagrata Eduserv Pvt. Ltd., a leading player in the Chartered Accountancy (CA) test preparation segment. This acquisition marks Adda247’s entry into the INR 800 crore CA test preparation market, further diversifying its offerings in the competitive exam preparation space.

Ekagrata has built a strong product lineup for CA aspirants, aligning perfectly with Adda247’s core strategy of providing high-quality online courses for competitive exam preparation. The acquisition is expected to significantly expand Adda247’s user base, which currently boasts 40 million monthly users, and position the platform to capture a substantial share of the booming CA test preparation market.

Anil Nagar, Founder and CEO of Adda247, expressed enthusiasm about the acquisition: “We’ve been planning to launch the CA category, and in Ekagrata, we found the perfect team to lead and grow this segment. Over the next several years, we aim to invest substantially in this category and establish a leadership position in the CA test preparation market. With this, our range of offerings has reached a new level of comprehensiveness, catering to aspiring students from every category.”

Anshul Agrawal, Founder of Ekagrata and a prominent figure in the CA category, will be appointed Director – CA at Adda247 to lead the category. Agrawal commented on the acquisition: “Joining forces with Adda247 presents an exciting opportunity to scale our impact in the CA test preparation space. We look forward to leveraging Adda247’s extensive reach and technological prowess to empower more CA aspirants across India.”

The acquisition will see Ekagrata’s founders and employees becoming an integral part of Adda247, with the Ekagrata brand now wholly owned by Adda247. This synergy between Adda247’s extensive reach and Ekagrata’s domain expertise in CA preparation is expected to create a powerful offering for aspiring chartered accountants, ultimately providing an unparalleled learning experience for hopefuls in the segment.

Adda247 continues to strengthen its position as a leading EdTech platform, offering a diverse range of courses for over 500+ examinations, including CUET, NEET, UPSC, Banking, SCC, and various government job exams. Prior to this acquisition, the company made notable acquisitions of StudyIQ in January 2021 and Veeksha in July 2023. Recently, Adda247 announced its expansion into the Skilling, Up-Skilling, and Higher Education sectors to empower youth by making them job-ready and to create high-impact, sustainable talent solutions for businesses.

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