US-based digital learning platform 2U has announced it has entered an agreement to acquire online learning platform GetSmarter for $103m.
The acquisition, which is expected to be completed in the third quarter of this year, will see GetSmarter maintain independent operations, as a subsidiary of 2U.
GetSmarter, based in Cape Town, partners with universities around the world to offer short courses online, targeted at working professionals.
“We look forward to better serving our university partners and their students across the globe”
The acquisition will also help 2U broaden its international reach, as well as expand into non-degree alternatives, and offer short courses to those not seeking a full degree.
Christopher Paucek, CEO and co-founder of 2U, said that with the acquisition of GetSmarter, 2U expects to strengthen its position in digital education.
“We also expect to accelerate our growth, extend our global footprint and provide a broader suite of services by matching up more students to the right programs at the right time as they further their professional and personal development,” he said.
GetSmarter has hosted over 50,000 students on its platform since it was founded in 2008.
Sam Paddock, CEO and co-founder of GetSmarter, said the acquisition by 2U will allow the company to “pursue stellar growth and stand out student outcomes at scale”.
“We look forward to better serving our university partners and their students across the globe,” he said.
