Accenture has announced its acquisition of the learning platform Udacity, signaling a move to develop a learning platform with a specific focus on the growing interest in artificial intelligence.
The financial terms of the Udacity acquisition were not disclosed, but Accenture also shared plans for a $1 billion investment in the creation of a technology learning platform named LearnVantage.
“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,” global lead of Accenture LearnVantage, Kishore Durg, said in a statement.
The company emphasized its intent to provide training aimed at equipping workers with AI skills, acknowledging the transformative impact of generative AI on work processes.
Udacity, founded in 2011, expressed confidence in its ability to reach a larger audience and assist individuals in acquiring skills within the broader organizational context as part of Accenture.
Earlier speculations had suggested talks with Indian edtech company Upgrad, with an alleged asking price of $80 million, though this deal did not materialize, and Accenture emerged as the acquirer. If the rumored $80 million figure is accurate, it represents a significant decrease in value for Udacity, which had previously raised almost $300 million and achieved a $1 billion valuation in 2015.
As is customary, the deal is subject to regulatory review and antitrust examination.
