Chegg has entered into a definitive agreement to acquire Busuu, a language learning online platform for $436 million (€385 million). The acquisition, which was approved by the boards of both companies, is expected to close early in the first quarter of 2022, subject to customary closing conditions.
Busuu provides courses in 12 different languages to over 500,000 paying subscribers, according to a statement from Chegg. Busuu has reached over 120 million learners to date across more than 160 countries, according to Chegg. The Busuu community sees 20,000 registrations a day, says Chegg.
Busuu was founded in 2008 by Bernhard Niesner and Adrian Hilti, with offices in London, UK, and Madrid, Spain.
[Image courtesy: Chegg]