BYJU's buys US-based reading app Epic in a $500m deal
The company also revealed that it has earmarked a billion dollars for investment in the US
Indian edtech giant BYJU'S has acquired US-based reading app Epic for $500 million. The company has not specified the cash and stock breakup of the deal.
Epic is a collection of high-quality books from 250 of the world's biggest publishers and has a collection of more than 40,000 books and original stories.
Made with children in mind, the app is built to encourage interactive reading. It customises its recommendations according to the reader's preferences and helps parents track their child's reading progress.
The company also revealed that it has earmarked a billion dollars for investment in the US, which it considers as one of its most lucrative markets.
Earlier, BYJU'S had acquired game-maker Osmo, another US-based company.
