Edtech giants Coursera and Udemy will merge in a major deal.
Edtech firms, Coursera and Udemy have entered into a definitive merger agreement under which Coursera will combine with Udemy in an all-stock transaction.
According to a statement, based on the closing prices of Coursera and Udemy common stock on December 16, the implied equity value of the combined company is approximately $2.5 billion.
Under the terms of the agreement, Udemy stockholders will receive 0.8 shares of Coursera common stock for each share of Udemy common stock, representing a 26% premium to the average closing prices of Udemy and Coursera over the last 30 trading days prior to the announcement.
Upon the closing of the transaction, existing Coursera stockholders are expected to own approximately 59% and existing Udemy stockholders are expected to own approximately 41% of the combined company, on a fully diluted basis.
Coursera anticipates that, following the closing of the transaction, the combined company will execute a sizable share repurchase programme.
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The transaction has been unanimously approved by the boards of directors of both Coursera and Udemy.
The transaction is expected to close by the second half of 2026, subject to the receipt of required regulatory approvals, approval by Coursera and Udemy shareholders, and the satisfaction of other customary closing conditions.
In connection with the transaction, Insight Venture Partners and New Enterprise Associates, key shareholders of Udemy and Coursera, respectively, as well as Andrew Ng, the chairman of the board of directors of Coursera, have entered into support agreements and agreed to vote in favour of the transaction.
“We’re at a pivotal moment in which AI is rapidly redefining the skills required for every job across every industry. Organisations and individuals around the world need a platform that is as agile as the new and emerging skills learners must master,” says Greg Hart, CEO of Coursera.
“By combining the highly complementary strengths of Coursera and Udemy, we will be in an even stronger position to address the global talent transformation opportunity, unlock a faster pace of innovation, and deliver valuable experiences and outcomes for our learners and customers. Together, we will ensure our millions of learners, thousands of enterprise, university, and government customers, and expert instructors have a platform to keep pace with technology acceleration.”
Udemy establishes an ecosystem of world-class instructors, encompassing faculty at globaluniversities, industry leaders, and global subject matter experts, while equipping students with AI-enhanced tools, data-driven insights, and expanded distribution to create more engaging, personalised, and dynamic learning experiences.
“For more than 15 years, Udemy has helped millions of people master in-demand skills at the speed of innovation,” adds Hugo Sarrazin, CEO of Udemy.
“Through this combination with Coursera, we will create meaningful benefits for our learners, enterprise customers, and instructors, while delivering significant value to our shareholders, who will participate in the substantial upside potential of the combined company. As a united platform, we can accelerate our AI-powered product roadmap, expand our global reach through enhanced go-to-market capabilities, and unlock substantial revenue and operating synergies that will strengthen our long-term financial profile.”
Upon the closing of the transaction, Hart will continue as CEO of the combined company. The board of directors of the combined company will consist of nine directors, six from the Coursera board, including Hart and Ng, who will continue as chairman of the board, and three from the Udemy board.
The combined company will operate under the name Coursera, trade under the ticker symbol COUR on the NYSE, and be headquartered in Mountain View, California.
Upon completion of the transaction, Udemy’s common stock will no longer be listed on NASDAQ.
Coursera’s status as a public benefit corporation remains unchanged.
