Accenture has announced the acquisition of the learning platform Udacity as part of its initiative to develop a learning platform dedicated to the rising interest in AI. The financial details of the acquisition remain undisclosed, but the company also revealed a $1 billion investment in creating a technology learning platform named LearnVantage.
While the platform may offer broader technology training, there is a specific focus on providing education to enhance skills in AI. Kishore Durg, the global lead of Accenture LearnVantage, emphasized the significance of AI in reshaping work processes and highlighted the need for training individuals in cloud, data, and AI as organizations evolve digitally.
Founded in 2011, Udacity expressed optimism about the acquisition by Accenture, foreseeing the opportunity to reach a wider audience and aid in skill development within a larger entity. The acquisition by Accenture also followed rumors earlier in the year of discussions between Udacity and Indian edtech company Upgrad, with an alleged asking price of $80 million. However, the deal with Upgrad did not materialize, leading to the acquisition by Accenture.
Despite the fluctuations in its valuation, with PitchBook reporting a nearly $300 million funding raise and a $1 billion valuation in 2015, Udacity’s acquisition by Accenture calls for regulatory assessment and antitrust scrutiny as part of the due diligence process.
