Accenture is set to acquire udacity with the aim of establishing a dedicated AI-focused learning platform

Accenture has officially declared its acquisition of the educational platform Udacity as part of its initiative to construct a learning platform centered on the increasing interest in artificial intelligence (AI). Although the financial details of the Udacity acquisition were not disclosed, Accenture also unveiled a substantial $1 billion investment for the development of a technology learning platform named LearnVantage.

While the platform may encompass broader technology training, Accenture emphasized its specific interest in providing education to empower individuals with AI proficiency. Kishore Durg, the global lead of Accenture LearnVantage, highlighted the transformative impact of generative AI on work processes, emphasizing the growing necessity for enterprises to train and upskill personnel in cloud, data, and AI.

Founded in 2011, Udacity expressed typical sentiments associated with acquisitions by larger entities like Accenture, stating its belief in reaching a wider audience and facilitating skill acquisition within the broader organizational framework. Earlier rumors had suggested Udacity's potential acquisition by the Indian edtech company Upgrad for $80 million, but this deal fell through, leading to Accenture's eventual acquisition.

Regardless, the rumored $80 million price tag signifies a significant decrease in value for Udacity, considering its previous fundraising of almost $300 million and a valuation of $1 billion in 2015, as reported by PitchBook. As customary, the acquisition is contingent upon regulatory scrutiny and antitrust review.