Highlights:

  • Udacity provides educational content emphasizing particular technologies, such as Python programming language.
  • More than 230 workers of Udacity will join the Accenture business unit, which is in charge of LearnVantage, the new IT training program that the latter company just revealed.

Professional services company Accenture acquires Udacity Inc., a venture-backed startup that provides a well-known online learning platform.

The financial details of the deal are not made public. Accenture intends to introduce LearnVantage, a technology training solution for businesses and government agencies, following the acquisition’s completion later this year. The company announced it would put USD one billion into the service over three years.

Listed on the NYSE, Accenture is one of the biggest suppliers of IT services. It assists businesses in developing cloud apps, enhancing network security, and carrying out other IT duties. In addition, Accenture operates in several other areas, such as the marketing services industry.

On the other hand, Udacity runs an online learning platform emphasizing IT instruction. The website offers classes that assist users in becoming acquainted with subjects like data science and artificial intelligence. Additionally, Udacity provides educational content with an emphasis on particular technologies, such as Python programming language.

The business has received more than USD 170 million in venture capital from investors, including Andreessen Horowitz. Udacity revealed in the middle of 2019 that it was expected to end the year with over USD 100 million in sales. A year or so later, the educational provider said the first half of 2020 saw a 260% increase in yearly recurring revenue.

More than 230 workers of Udacity will join the Accenture business unit, which is in charge of LearnVantage, the new IT training program that the latter company just revealed. The service is intended for both corporate users and technology specialists. According to Accenture, LearnVantage will offer instruction in various subjects, including cybersecurity, data science, and AI.

The service also places a lot of emphasis on the public cloud. Accenture announced that it will collaborate with the cloud businesses of Google LLC, Microsoft Corp., and Amazon Web Services Inc. to offer generative AI training content to associated clients. Additionally, the business intends to provide relevant resources, such as certifications.

LearnVantage Global Lead Kishore Durg said, “The rapid rise of generative AI has grown our clients’ need for training and upskilling their people in cloud, data, and AI as they build their digital core. Accenture LearnVantage will help our clients not only advance their business goals but also help their people build the skills they will need for the next waves of technology change.”

The sale of Udacity occurred three years after Skillsoft Corp. paid USD 525 million to purchase Codecademy, a competitor in the IT education space. Codecademy has already raised over USD 80 million in finance from Index Ventures and other institutional investors.