Accenture to acquire Udacity
Global professional services business, Accenture, has announced it is purchasing the digital education business, Udacity, for an undisclosed sum and investing $1 billion over three years to meet clients’ training needs.
Udacity is an AI-native learning platform and uses a recommendation engine to deliver personalized learning experiences. Accenture is to invest $1 billion over the next three years, encompassing this purchase and the launch of Accenture LearnVantage, a service offering technology learning and training services to help clients reskill and upskill their people in technology, data and AI. Udacity's 230 staff will join Accenture LearnVantage.
Udacity was founded in 2011 and has evolved from having a consumer-focus to a talent transformation platform. It's statement points out that it ‘has differentiated itself through its combination of high-quality content and ‘human in the loop’ learning, coupled with an outcome-focused approach.’
“The rise of generative AI represents one of the most transformative changes in how work gets done and is driving a growing need for enterprises to train and upskill people in cloud, data and AI as they build their digital core and reinvent their enterprises,” said Kishore Durg, global lead of Accenture LearnVantage. “The addition of Udacity to Accenture LearnVantage will enable us to bring Accenture’s deep capabilities as a world-class learning organization to clients at scale, helping them build the skills of their people to achieve greater business value.”
“As we join forces with Accenture, we are thrilled to embark on this next chapter of our journey. Together, we are dedicated to delivering impactful and cutting-edge tech education that enables individuals and organizations to unlock their potential,” said Kai Roemmelt, CEO of Udacity. “This combined with Accenture’s world-class expertise and global footprint will allow us to reach even more learners and amplify our impact, empowering millions to thrive in the digital economy.”
Terms of the Udacity aquisition transaction were not disclosed and is subject to regulatory review and antitrust oversight.