Coursera to buy Udemy, creating a $2.5B learning platform for AI-era skills

Coursera has agreed to buy rival online learning platform Udemy in an all stock deal that values the combined business at roughly $2.5 billion, a move that highlights accelerating consolidation in the digital education sector as providers position themselves for rising demand for AI-related skills.

Under the terms of the agreement, Coursera will issue 0.8 shares of Coursera stock for each Udemy share, valuing Udemy at just over $900 million based on recent market prices.

Both Udemy and Coursera shares rose on the announcement, with Udemy’s stock jumping more than Coursera’s. 

Once completed, Udemy will become a wholly owned subsidiary and its shares will be delisted from Nasdaq. The transaction has been approved by the boards of both companies and is expected to close in the second half of 2026, subject to regulatory and shareholder approvals.

The acquisition brings together two distinct but largely complementary models of online learning.

Coursera has built its reputation through partnerships with universities and large employers, offering degree programmes, professional certificates and structured learning pathways. Udemy operates an open marketplace, with millions of independent instructors offering short, skills-focused courses aimed at rapid upskilling in areas such as software development, data science and business tools.

“We’re at a pivotal moment in which AI is rapidly redefining the skills required for every job across every industry,” said Greg Hart, CEO of Coursera.

“By combining the highly complementary strengths of Coursera and Udemy, we will be in an even stronger position to address the global talent transformation opportunity, unlock a faster pace of innovation, and deliver valuable experiences and outcomes for our learners and customers,” Hart added.

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“As a united platform, we can accelerate our AI-powered product roadmap, expand our global reach through enhanced go-to-market capabilities, and unlock substantial revenue and operating synergies that will strengthen our long-term financial profile,” explained Hugo Sarrazin, CEO of Udemy.

The companies said the combined group would generate more than $1.5 billion in annual revenue on a pro forma basis and deliver around $115 million in annual run-rate cost synergies within two years. Management expects efficiencies to come from shared technology infrastructure, reduced duplication in corporate functions and greater scale in sales and marketing.

Coursera has also signalled its intention to pursue a sizeable share buyback programme after the deal closes, suggesting confidence in longer-term cash generation.

Leadership of the enlarged group will remain with Coursera. Hart will continue as chief executive while co-founder Andrew Ng will remain chair of the board. The new board will have nine directors, six from Coursera and three from Udemy. Major shareholders, including Insight Venture Partners and New Enterprise Associates, have agreed to support the transaction.

Many online learning companies have struggled to sustain the rapid growth seen during the pandemic as consumer demand normalised and competition intensified, making consolidation a more attractive strategic option.

The deal aims to strengthen Coursera’s position with enterprise customers. Employers are increasingly seeking unified platforms that combine formal credentials with practical job-ready skills, particularly in artificial intelligence and automation. Bringing together Udemy’s vast catalogue of instructor-led content with Coursera’s academic partnerships could offer a broader and more flexible skills ecosystem.

Integrating different technology platforms, aligning pricing models and managing relationships with Udemy’s independent instructors are likely to take time.

Meanwhile, the acquisition could accelerate innovation in AI-driven learning and reinforce Coursera’s role in workforce reskilling.