In a bold move towards catering to the escalating demand for AI education, Accenture has revealed its acquisition of Udacity – a renowned learning platform. Alongside this announcement, the company also disclosed its $1 billion investment in a new technology learning platform called LearnVantage. While the financial details of the acquisition have not been disclosed, it is clear that Accenture aims to provide extensive training in AI, cloud computing, and data analysis. This is in line with the ongoing revolution in the field of generative AI, which has drastically transformed the way businesses operate and has created a pressing need for upskilling their workforce.
“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,” says Kishore Durg, global lead of Accenture LearnVantage.
With Udacity, a platform founded in 2011, now coming under Accenture’s wing, it is confident of reaching out to a larger audience and assisting them in acquiring valuable skills as a part of a bigger entity. However, this is not the first time that acquisition talks have surrounded Udacity. Earlier this year, there were rumors of a potential deal with Indian Edtech company Upgrad, with an estimated price of $80 million. However, this deal did not materialize and Accenture took the helm instead.
If reports of the $80 million price are accurate, it marks a significant drop in value for Udacity, considering the astonishing $1 billion valuation it held in 2015, when it raised almost $300 million in funding according to Pitchbook data.
As with any major acquisition, the deal is subject to regulatory review and antitrust scrutiny. Nonetheless, this acquisition marks a strategic move on Accenture’s part to dominate the booming technology education market and empower individuals in the changing digital landscape.
