Emeritus, a global company that makes high-quality education accessible and affordable to individuals, businesses and governments around the world, has announced a definitive agreement to acquire Silicon Valley-based iD Tech for $ 200 million. iD Tech focuses on educating young STEM people.
The acquisition, which is made through Emeritus ‘parent company, Eruditus, marks Emeritus’ expansion into K12 STEM education. The company grows to prepare individuals of all ages for success in the workforce and positions Emeritus as one of the most important and fastest growing skills platforms. iD Tech will operate independently, maintaining its team of instructors and employees.
The separate, but highly complementary, offerings of Emeritus and iD Tech will be tailored to support a global audience with enhanced learning experiences. Career opportunities in STEM are expected to grow exponentially, with around 3.5 million jobs in the United States alone set to be filled by 2025. With offerings from both companies in coding, math , game development, robotics and more, Emeritus and iD Tech are positioned to make STEM learning more accessible, paving the way for a brighter future in the STEM professions,
“Emeritus’s mission is to teach professionals the skills of the future such as AR / VR, artificial intelligence, cybersecurity, software engineering, design thinking and leadership,” said Ashwin Damera, co-founder and CEO, highlighting that the company is more than 200 short courses, online study programs, boot camps and CXO programs offered in collaboration with more than 50 of the world’s top universities. “We believe that mastery and mastery of these skills should begin in K12, and that iD Tech will play a pivotal role as we jointly pursue our goal of closing the STEM skills gap globally. Their long-term learning system is a perfect complement to what we offer adult learners and will allow us to create a great ecosystem of lifelong learning, ”he said.
Founded in 2015, Emeritus, part of Eruditus Learning Solutions, has more than 1,000 employees worldwide and offices in Mumbai, New Delhi, Shanghai, Singapore, Palo Alto, Mexico City, New York, Boston, London and Dubai. The company has raised over $ 160 million in capital and is backed by the Chan Zuckerberg Initiative, Sequoia India, Leeds Illuminate and Prosus Ventures.