Upgrad calls off Unacademy acquisition talks over valuation differences

Ronnie Screwvala-led higher education platform Upgrad has withdrawn from acquisition discussions with SoftBank-backed test-prep company Unacademy after the two sides failed to agree on valuation, ending months of negotiations.

Confirming the development to Financial Express, Screwvala said, “Yes, we are not proceeding due to valuation differences. While we cannot comment on specific numbers, it is fair to say that we were unable to arrive at a mutually agreeable valuation.”