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Udemy M&A Announcement summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.M&A Announcement summary17 Dec, 2025
Deal rationale and strategic fit
The merger combines complementary strengths in consumer and enterprise segments, creating a leading technology platform for skills discovery, development, and mastery, and delivering greater value to millions of learners and thousands of enterprise, university, and government customers worldwide.
Unites academic rigor, branded credentials, and world-class instructors with a dynamic, AI-powered marketplace and enterprise reach, offering engaging, personalized, and dynamic learning experiences.
Leverages shared product, data, and technology investments to accelerate AI-native innovation, expand global reach, and deliver verified skills that improve career and business outcomes.
Both companies share a mission-driven culture focused on transforming lives through learning and empowering the global workforce.
Enhances the ability to attract and retain both individual and enterprise learners globally through combined go-to-market capabilities and localization initiatives.
Financial terms and conditions
All-stock transaction: Udemy shareholders receive 0.800 Coursera shares per Udemy share, representing a 26% premium to the 30-day average closing prices.
Pro-forma ownership: Coursera shareholders will own about 59% and Udemy shareholders about 41% of the combined company on a fully diluted basis.
Implied combined equity value of approximately $2.5 billion based on closing prices as of December 16, 2025.
Combined pro forma annual revenue exceeds $1.5 billion, with nearly $1.2 billion in cash as of Q3 2025.
The combined company will be named Coursera, Inc., headquartered in Mountain View, California, with Greg Hart as CEO and a nine-member board (six from Coursera, three from Udemy), and Andrew Ng as Chairman.
Synergies and expected cost savings
Anticipated annual run-rate cost synergies of $115 million within 24 months of closing, primarily from operational efficiencies, optimized go-to-market motions, and streamlined G&A expenses.
Eliminating duplicative technology stacks will accelerate AI-native product innovation.
Meaningful operating efficiencies are expected to enhance capacity for sustained investments in product-led growth and rapid product development.
Detail primary sources of $115M cost synergies
Outline combined AI product roadmap and new offerings
How will combined platform leverage unique strengths?
Detail content strategy for combined platform
Breakdown $115M synergy realization plan
Timeline for unified enterprise go-to-market?
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Q4 202513 Feb, 2026
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Udemy Inc is an online learning and teaching marketplace offering courses across business, technology, personal development, and other fields. It connects instructors and learners through its digital platform accessible globally. The company is headquartered in San Francisco, California, and its shares are listed on the NASDAQ.
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