Mumbai: Leading online higher education company upGrad on Monday announced it has acquired Gurugram-based ed-tech rival Talentedge. According to reliable sources, the acquisition is valued somewhere between Rs 350 Rs 400 crore.

Talentedge, which is currently the fourth largest online education player, is expected to reach a revenue of over Rs 130 crore this year and aims to double its revenue in the coming year.

"Talentedge has meticulously built a strong business over the last decade and stayed the course in this space where most did not survive and we are very pleased to welcome them at upGrad as we build one of the largest EdTech companies in the world," said Ronnie Screwvala, Chairperson and Co-Founder, upGrad.

Talentedge offers more than 60 courses in partnership with more than 20 universities.

It has partnered with top Indian and international institutes including IIMs, XLRI, MICA, Cornell, and UCLA extension, among others, and has more than 5,00,000 individual and corporate learners.

"Talentedge will continue to work as-is with its university and institute partners to deliver the quality education to its learners across degree and certification programmes," said Aditya Malik, CEO, and MD, Talentedge.