Coursera to acquire Udemy in $2.5 billion all-stock deal as online education consolidates

Coursera said Wednesday it has agreed to acquire rival online learning platform Udemy in an all-stock transaction that values the combined company at approximately $2.5 billion, as the online education sector enters a new phase of consolidation following a post-pandemic slowdown.

Under the terms of the deal, Udemy shareholders will receive 0.8 shares of Coursera for each share held, valuing Udemy at about $930 million based on Coursera’s most recent closing price. Coursera shares rose roughly 8 percent following the announcement, while Udemy jumped nearly 28 percent.

The acquisition brings together two of the largest U.S.-based online learning platforms at a time when consumer enrollment growth has cooled from pandemic-era highs. With individual learners becoming more selective and price-sensitive, online education companies are increasingly seeking scale, recurring revenue, and deeper relationships with enterprise customers.

“We’re at a pivotal moment in which AI is rapidly redefining the skills required for every job across every industry. Organizations and individuals around the world need a platform that is as agile as the new and emerging skills learners must master,” said Greg Hart, CEO of Coursera. “By combining the highly complementary strengths of Coursera and Udemy, we will be in an even stronger position to address the global talent transformation opportunity, unlock a faster pace of innovation, and deliver valuable experiences and outcomes for our learners and customers. Together, we will ensure our millions of learners, thousands of enterprise, university, and government customers, and expert instructors have a platform to keep pace with technology acceleration.”

Coursera and Udemy are positioning the combined platform to capture rising corporate demand for workforce training, particularly in areas such as artificial intelligence, data science, and software development. Employers across industries are accelerating reskilling efforts as generative AI reshapes job roles and productivity expectations.

Founded in 2012 by Stanford professors Andrew Ng and Daphne Koller, Coursera was built on a vision of providing life-transforming learning experiences to anyone, anywhere. The company has since grown into the world’s largest online learning platform for higher education, partnering with 190 leading universities and industry educators to offer courses, professional certificates, and degree programs. Today, Coursera serves more than 40 million learners globally and counts over 1,800 companies as customers of its enterprise platform, Coursera for Business.

Udemy operates a marketplace model built around independent instructors who sell individual courses and subscriptions, including enterprise offerings for organizations seeking flexible, skills-based training. The combination is expected to blend Coursera’s university-backed credentials and enterprise focus with Udemy’s broad course catalog and instructor ecosystem.

Based on Coursera’s last close, the offer implies a $6.35 price per Udemy share, representing a premium of roughly 18.3 percent. The companies said the transaction is expected to close in the second half of next year, subject to regulatory and shareholder approvals.

Despite growing enthusiasm for AI-driven upskilling, investor sentiment toward the online education sector remains cautious. Shares across the space have lagged broader markets amid concerns about competition, pricing pressure, and uncertain returns on AI-related investments. Udemy shares are down about 35 percent year to date, while Coursera has fallen roughly 7 percent, leaving both companies trading well below their post-IPO peaks.

Coursera is backed by venture capital firms including Kleiner Perkins, New Enterprise Associates, GSV Capital, and Learn Capital. The company has raised a total of $313.1 million across nine funding rounds, underscoring its long-term positioning as institutions and employers rethink how education and workforce training are delivered at scale.