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March 15 (Reuters) - Indian edtech startup upGrad has signed a term sheet to acquire rival Unacademy in an all-stock deal, the companies said on Sunday. * Unacademy founder and CEO Gaurav Munjal said ...

The deal comes after Unacademy’s valuation plunged from $3.5B to under $500M, as India’s once-booming edtech sector struggles.

After months of talks and discussions, upGrad has finally signed a term sheet to acquire 100% stake in Unacademy in a share swap deal.