New U.K. Edtech Entity To Spend Up To $77M Acquiring European E-Learning Firms Over Next 18 Months To Build Regional Giant
Tech Crunch: “…Expect a swathe of consolidation in the European e-learning sector in the coming months. Edxus Group, a new London-based corporate operating edtech company, is planning to plough in €50-60 million ($64-$77 million) over the next 18 months to develop and acquire European e-learning businesses and build out a single regional player with the scale to compete against U.S. edtech giants, it said today.
Edxus plans to execute the first phase of its “buy and build” strategy over the next three to four months, deploying an initial €15-20 million to “consolidate a handful of European e-learning companies”. Asked whether it’s looking to acquire startups or not, Edxus said its interest is in “companies with €2m to €10m turnover and with an established presence in the market” — so early stage e-learning startups are not on its radar, at least. It added that target companies will also have “a top line revenue growth of 25% year on year”…” Read more