Byju's is looking to acquire a majority stake in Zee Learn, sources told CNBC-TV18 on Thursday. However, the latter has dismissed the development as speculative and has denied any dialogue with the Bengaluru-based educational technology startup.

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“The company does not comment on such matters,” Zee Learn told CNBC-TV18.

The comment came shortly after sources said talks between Byju’s and the Zee Entertainment Enterprises subsidiary are at a preliminary stage. They said the edtech startup may acquire a stake of nearly 51 percent in Zee Learn via a mix of a preferential issue and sale of stake by shareholders.

CNBC-TV18 has written to confirm the development but the firm is yet to comment on the matter.

Byju’s has been on an acquiring spree since 2021. In September last year, it said it will acquire K-12 creative coding platform Tynker for an undisclosed amount, as it looks to strengthen its presence in the US market. Prior to that, Byju's had acquired US-based digital reading platform Epic for $500 million (around Rs 3,729.8 crore) in July 2021.

Previously, Byju's had acquired TutorVista and Edurite (from Pearson in 2017), Osmo (2019) and coding training platform WhiteHat Jr for USD 300 million in 2020.

The edtech startup’s acquisitions come as the sector has seen strong growth globally, including in India, with the COVID-19 pandemic serving as an inflection point. Many offline classes went online to ensure continuity of education while adhering to social distancing norms.

Meanwhile, Zee Learn operates more than 130 schools across 110 cities in the country. It owns brands such as Kidzee, Ankurum, Mount Litera and Himgiri.

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First Published:Jan 6, 2022 2:28 PM IST