Codeacademy acquired by EdTech Rival Skillsoft for $525 million

In its biggest acquisition so far, the EdTech company Skillsoft Corp. has agreed for a deal to acquire its rival Codeacademy for $525 million in a cash and stock mode. The company in a latest consolation bet, last week announced the move for expanding its footprint in eLearning market.

The New York based, closely organized startup, Codeacademy offers basic online computer coding services, including free classes in data science, programming and cybersecurity along with its more in-depth paid offerings. While, Skillsoft went public in June, this year, Codeacademy has raised $40 million in new funding, this year in February.

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