Simplilearn Acquires New York based Fullstack Academy, Aims to Achieve $200mn in Revenue by FY24

• Blackstone-backed edtech major Simplilearn announced its 100% acquisition of Fullstack Academy, a trailblazer in tech education in the United States
• The acquisition accelerates Simplilearn's growth in the United States, with access to over 20 new university and government partnerships across the country
• Fullstack Academy has over 300 employees spread across the US and is on track to deliver over USD 30M in revenue this year

SAN FRANCISCO, Nov. 28, 2022 /PRNewswire/ -- Simplilearn, the world's leading online bootcamp for digital skilling training, announced that it has acquired a U.S.-based bootcamp education company, Fullstack Academy, for an all-cash transaction. This will be the company's second acquisition after Market Motive in 2015. Simplilearn has grown exponentially by over 60% in the past year and this complementary acquisition will accelerate Simplilearn's journey to become the largest digital skilling company globally. The news of the Fullstack Academy acquisition comes right after the latest funding by the GSV-led consortium. The acquisition will enhance Simplilearn's scale and presence in the bootcamp space and drive revenue growth to $200mn by FY24, of which 70 percent is likely to come from global markets.

Fullstack Academy is a premium bootcamp provider that has expanded its offerings, introducing new bootcamp programs in Web Development, Cybersecurity, Product Management, DevOps, Data Analytics, and other disciplines. Over the years, the company has built strong partnerships with twenty university and industry partners, growing to over 7,000 alumni across the U.S. It also runs the highly successful Grace Hopper Program with an aim to encourage women and non-binary students to pursue tech careers.

Fullstack's existing partnerships across 15 states provides Simplilearn access to new university partnerships that will expedite Simplilearn's growth in the region. Simplilearn credits Fullstack Academy's established reputation for quality outcomes, positive student feedback, trusted partnerships, and talented employee base, as the primary factors behind its acquisition of the tech bootcamp provider. Following the sale, all Fullstack Academy employees will remain in their roles as part of the combined organization, bringing Simplilearn's total employee count to over 2,500. Fullstack Academy will continue to serve its students and partners as an independent business unit within Simplilearn.

Sharing details on the acquisition, Mr. Krishna Kumar, Founder, and CEO, of Simplilearn, said, "Bootcamps have been an extremely popular concept in the edtech industry, and there is no denying that learners are looking for the holistic learning experience that bootcamps offer. Through Fullstack Academy's wide-spread footprint in the U.S. and its strong partnerships with top universities, we are confident that this collaboration will enable us to accelerate our global expansion plans. It is amazing to find a business whose vision is similar to ours and complements our pedagogy and belief system. We are certain we will be able to leverage each other's capabilities synergisitically to build a strong company."

"This acquisition marks an exciting opportunity for our organization," said Jerrad Tausz, CEO of Fullstack Academy. "Simplilearn is the world's No. 1 online digital bootcamp. Together, we share an aligned mission of transforming lives by helping students from all backgrounds and skill sets learn the technical skills needed to secure in-demand jobs. We are very confident in the future success of our organization and excited about what the change of ownership will bring to all staff, students, partners, and alumni. I look forward to leveraging our shared vision with Simplilearn to bridge the digital skills gap in the U.S. market."

Recently, Fullstack Academy was designated an AWS Authorized Training Partner, enabling the delivery of official AWS Training and Certification in high-demand skills areas such as cloud computing. It was selected to join the 2023 Amazon Career Choice program, offering bootcamp programs to eligible Amazon employees across more than 30 metropolitan areas. Additionally, Fullstack Academy was selected by LinkedIn Talent Solutions as the winner of its 2021 LinkedIn Talent Awards for Best Acquisition Team in the Education category.

About Simplilearn

Founded in 2010 and based in San Francisco, California, and Bangalore, India, Simplilearn is the world's #1 online Bootcamp for digital economy skills training. Simplilearn offers access to world-class work-ready training to individuals and businesses around the world. The Bootcamps are designed and delivered with world-renowned universities, top corporations, and leading industry bodies via live online classes featuring top industry practitioners, sought-after trainers, and global leaders. From college students and early career professionals to managers, executives, small businesses, and big corporations, Simplilearn's role-based, skill-focused, industry-recognized, and globally relevant training programs are ideal upskilling solutions for diverse career or/and business goals. For more information, visit https://www.simplilearn.com/.

About Fullstack Academy

Fullstack Academy is a national tech education provider based in New York City. Founded in 2012, it offers web development, cybersecurity, data analytics, DevOps, and product management bootcamps. Fullstack Academy also offers the Grace Hopper Program, an immersive software engineering course for women and non-binary students, in addition to partnerships with leading universities nationwide, including Virginia Tech, Caltech CTME, and Louisiana State University. Graduates have been hired by Google, Facebook, Amazon, Fortune 100 firms, and startups. For more information, visit https://www.fullstackacademy.com/.

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