Blackstone-backed edtech major Simplilearn has acquired US-based bootcamp education company Fullstack Academy in an all cash deal.
This will be the company’s second acquisition after Market Motive in 2015.
“Simplilearn has grown exponentially by over 60% in the past year and this complementary acquisition will accelerate Simplilearn’s journey to become the largest digital skilling company globally. The acquisition will enhance Simplilearn’s scale and presence in the bootcamp space and drive revenue growth to $200 million by FY24, of which 70% is likely to come from global markets,” the company said in a statement.
The Fullstack Academy acquisition comes right after the latest funding by the GSV led consortium.
Following the sale, all Fullstack Academy employees will remain in their roles as part of the combined organisation, bringing Simplilearn’s total employee count to over 2,500. Fullstack Academy will continue to serve its students and partners as an independent business unit within Simplilearn.
A premium bootcamp provider, Fullstack Academy has expanded its offerings, introducing new bootcamp programmes in web development, cybersecurity, product management, DevOps, data analytics, and other disciplines. Over the years, the company has built strong partnerships with twenty university and industry partners, growing to over 7,000 alumni across the US. It also runs the Grace Hopper Program with an aim to encourage women and nonbinary students to pursue tech careers.
Fullstack’s existing partnerships across 15 states provides Simplilearn access to new university partnerships that will expedite Simplilearn’s growth in the region.
“Simplilearn credits Fullstack Academy’s established reputation for quality outcomes, positive student feedback, trusted partnerships, and talented employee base, as the primary factors behind its acquisition of the tech bootcamp provider,” the statement said.
“Bootcamps have been an extremely popular concept in the edtech industry, and there is no denying that learners are looking for the holistic learning experience that bootcamps offer. Through Fullstack Academy’s wide-spread footprint in the US and its strong partnerships with top universities, we are confident that this collaboration will enable us to accelerate our global expansion plans. It is amazing to find a business whose vision is similar to ours and complements our pedagogy and belief system. We are certain we will be able to leverage each other's capabilities synergisitically to build a strong company,” said Krishna Kumar, Founder, and CEO, of Simplilearn.
Stating that the acquisition marks an exciting opportunity for the organisation, Jerrad Tausz, CEO of Fullstack Academy, said, “Together, we share an aligned mission of transforming lives by helping students from all backgrounds and skill sets learn the technical skills needed to secure in-demand jobs. We are very confident in the future success of our organisation and excited about what the change of ownership will bring to all staff, students, partners, and alumni. I look forward to leveraging our shared vision with Simplilearn to bridge the digital skills gap in the US market.”
Recently, Fullstack Academy was designated an AWS Authorised Training Partner, enabling the delivery of official AWS Training and Certification in high-demand skills areas such as cloud computing. It was selected to join the 2023 Amazon Career Choice program, offering bootcamp programmes to eligible Amazon employees across more than 30 metropolitan areas. Additionally, Fullstack Academy was selected by LinkedIn Talent Solutions as the winner of its 2021 LinkedIn Talent Awards for Best Acquisition Team in the Education category.
Founded in 2010 and based in San Francisco, California, and Bangalore, India, Simplilearn offers access to work-ready training to individuals and businesses around the world. The bootcamps are designed and delivered with world-renowned universities, top corporations, and leading industry bodies via live online classes featuring top industry practitioners, sought-after trainers, and global leaders.