Coursera and Udemy Agree $2.5bn All-Stock Merger
Coursera and Udemy have announced a definitive merger agreement that will see the two global e-learning companies combine in an all-stock transaction valued at approximately $2.5 billion.
The deal was announced on Thursday and is based on the closing share prices of both companies as of December 16, 2025. It has received unanimous approval from the boards of directors of Coursera and Udemy.
Merger Terms and Strategic Rationale
Under the terms of the agreement, Udemy shareholders will receive 0.800 shares of Coursera common stock for each Udemy share held.
The companies said the merger brings together complementary strengths across consumer learning, enterprise education, workforce training, and career development. The combined platform is expected to serve millions of learners and thousands of enterprise, university, and government customers worldwide.
Executives Highlight AI-Driven Skills Transformation
Commenting on the transaction, Coursera Chief Executive Officer Greg Hart said the merger comes at a critical moment for global skills development.
“We’re at a pivotal moment in which AI is rapidly redefining the skills required for every job across every industry. Organizations and individuals need a platform that is as agile as the emerging skills learners must master,” Hart said.
Both companies said the merger will accelerate AI-native innovation by combining their product, data, and technology investments, enabling verified skills pathways from discovery to mastery.
Udemy Chief Executive Officer Hugo Sarrazin said the unified platform will speed up AI-powered product development, expand global reach, and unlock long-term revenue and operating synergies.
Financial Impact and Cost Synergies
Coursera and Udemy expect the combined entity to deliver significant operating efficiencies, including projected annual run-rate cost synergies of $115 million within 24 months of closing.
The stronger financial position is expected to support sustained investment in AI-driven innovation and long-term growth initiatives. Coursera also announced plans to execute a sizeable share repurchase programme following completion of the transaction.
Deal Timeline and Shareholder Support
The transaction is expected to close in the second half of 2026, subject to regulatory approvals, shareholder approvals from both companies, and other customary closing conditions.
Key shareholders, including Insight Venture Partners, New Enterprise Associates, and Coursera board chairman Andrew Ng—have agreed to vote in favour of the deal.
Leadership Structure and Corporate Details
Following the merger:
- Greg Hart will continue as Chief Executive Officer
- Andrew Ng will remain Chairman of the Board
- The board will consist of nine directors, six from Coursera and three from Udemy
The combined company will operate under the Coursera name, trade under the ticker symbol COUR on the New York Stock Exchange, and be headquartered in Mountain View, California.
Udemy’s shares will be delisted from NASDAQ upon completion of the transaction. Coursera’s status as a Public Benefit Corporation will remain unchanged.
Implications for Nigeria and Emerging Markets
Both Coursera and Udemy are widely used in Nigeria, but Coursera has played a particularly prominent role in national digital skills development.
Through its partnership with the National Information Technology Development Agency (NITDA), Coursera has helped train millions of Nigerians in digital and technology skills as part of government-led workforce development initiatives.
Industry observers say the merger could strengthen the platform’s ability to support large-scale public-sector and workforce training programmes across Africa and other emerging markets.
