Byju’s Sells US Acquisitions: Epic and Tynker

Byju’s, previously regarded as India’s foremost edtech enterprise, has divested two significant US acquisitions, Epic and Tynker, for considerably less than the amounts originally paid.

As reported by EdWeek Market Brief, Epic was sold to China’s TAL Education for $95 million, while Tynker was acquired by CodeHS for a mere $2.2 million in cash. This sale received approval from a US bankruptcy court on May 20.

For perspective, Byju’s had initially purchased Epic for $500 million in 2021 and Tynker for $200 million.

These transactions are part of a comprehensive restructuring endeavour by Byju’s, aimed at resolving ongoing disputes with lenders and rectifying operational errors and postponed financial disclosures. The company’s US division, Byju’s Alpha, found itself in the midst of the legal proceedings and asset auction, following claims of loan default and mismanagement.

It’s worth noting that Byju’s has not yet submitted its audited financial statements for FY23, FY24, and FY25.

In the meantime, some of the entities acquired by Byju’s, including Great Learning and Aakash Institute, have distanced themselves from the Bengaluru-based corporation and are functioning as separate entities.

Inquiries directed to Byju’s did not receive an immediate reply.