Accenture announced its acquisition of Udacity, a California-based edtech platform. This move is part of the company's strategy to invest $1 billion over three years in enhancing upskilling opportunities for its clients. Although the deal amount was not disclosed.
The company also introduced its upskilling platform, LearnVantage, on Tuesday. It aims to attract clients who need to learn about technology, data, and artificial intelligence (AI).
The acquisition of Udacity and launch of LearnVantage platform come at a time when the demand for upskilling, particularly in the generative AI sector, is becoming increasingly prevalent across IT services industry globally.
In January, Accenture said that it is setting up generative AI studios in nine countries across Asia Pacific and Latin America to respond to growing client interest in the technology.
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According to a recent survey done by the company revealed that 77 per cent of the C-suite in APAC plan to increase their AI-related spending in 2024 as companies move from proof of concept to customising foundation models with proprietary data. 84 per cent of the C-suite in LATAM plan to do the same.
After the acquisition, over 230 employees of Udacity will join Accenture's team, it added in a statement.
The Economic Times reported last month that Ronnie Screwvala's Upgrad Education is in the advanced stage of talks to acquire Udacity.
Founded by Sebastian Thrun in 2011, Udacity offers certified job-ready skills. It reached unicorn status in 2015 following a $105 million Series D funding round. The platform provides programs in AI and machine learning, with clients such as Google, Microsoft, IBM, and AT&T.
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