Coursera and Udemy have signed a definitive agreement to merge in an all-stock transaction valued at approximately $2.5 billion, creating one of the world’s largest digital learning platforms.
The agreement, announced on Thursday, is based on the companies’ share prices at market close on December 16, 2025, and has been unanimously approved by the boards of directors of both companies.
Transaction Structure and Strategic Fit
Under the terms of the deal, Udemy shareholders will receive 0.800 shares of Coursera common stock for each Udemy share they own.
The companies said the merger unites complementary capabilities across individual learning, enterprise education, workforce reskilling, and career advancement. The combined platform is expected to support millions of learners and thousands of enterprise, academic, and government clients across global markets.
Leadership Emphasises AI-Driven Skills Evolution
Coursera Chief Executive Officer Greg Hart said the merger reflects the accelerating impact of artificial intelligence on global employment and skills demand.
“AI is reshaping the skills required across every role and every industry. Learners and organisations need a platform that can evolve as quickly as the skills they must acquire,” Hart said.
Both companies noted that the combination will fast-track AI-native product development by pooling technology, data, and research investments to deliver structured and verifiable skills pathways from learning discovery through mastery.
Udemy Chief Executive Officer Hugo Sarrazin said the merged platform would enhance global reach, accelerate AI-powered innovation, and generate long-term revenue and operational efficiencies.
Expected Financial Benefits and Synergies
The combined business is expected to realise meaningful cost efficiencies, with projected annual run-rate synergies of about $115 million within two years of closing.
The stronger balance sheet is expected to support continued investment in AI-driven growth initiatives. Coursera also confirmed plans to launch a substantial share repurchase programme after the transaction is finalised.
Closing Timeline and Investor Backing
The merger is expected to close in the second half of 2026, subject to regulatory clearances, shareholder approvals from both companies, and customary closing conditions.
Major investors, including Insight Venture Partners, New Enterprise Associates, and Coursera board chairman Andrew Ng, have committed to vote in support of the transaction.
Post-Merger Governance and Operations
After completion:
- Greg Hart will continue as Chief Executive Officer
- Andrew Ng will remain Chairman of the Board
- The board will consist of nine directors, with six appointed by Coursera and three by Udemy
The merged entity will operate under the Coursera brand, trade on the New York Stock Exchange under the ticker symbol COUR, and maintain its headquarters in Mountain View, California.
Udemy’s shares will be delisted from NASDAQ once the deal is completed, while Coursera will retain its status as a Public Benefit Corporation.
What the Merger Means for Nigeria and Emerging Markets
While both platforms have strong user bases in Nigeria, Coursera has played a significant role in national digital capacity building.
Through its collaboration with the National Information Technology Development Agency (NITDA), Coursera has helped equip millions of Nigerians with in-demand digital and technology skills under government-led training programmes.
Analysts say the merger could further strengthen large-scale workforce development initiatives across Africa and other emerging economies.
