NSE Academy Limited, a wholly-owned subsidiary of the National Stock Exchange Limited has acquired Hyderabad-based edtech startup TalentSprint.
Supported by Nexus Venture Partners and National Skill Development Corporation (NSDC), TalentSprint offers certification programs in emerging and deep technologies to professionals using a hybrid online/onsite model.
Through this acquisition, NSE Academy will not only offer finance skills courses but will also focus on adjacent areas in emerging technology such as Artificial Intelligence, Machine Learning, Fintech and Blockchain in the capital market and banking, financial services and insurance (BFSI) domain through online and offline modes.
The edtech platform operates in professional learning and executive education space. It has tie-ups with premier institutes like the Indian Institute of Science (IIS, Bengaluru), International Institute of Information Technology (Hyderabad) and the Indian Institute of Management (Calcutta) to offer courses in deep tech areas like artificial intelligence, machine learning, blockchain and fintech.
The two firms, however, have not spoken on the size of the deal, citing non-disclosure norms.
“TalentSprint will augment NSE Academy’s objective to be the leader in the education segment with the aim of providing continuous life-long learning opportunities,” a TalentSprint statement has said.
Vikram Limaye, MD and CEO, NSE said “NSE’s mission has been to support the growth of Indian capital markets and financial education has been the biggest enabler to achieving this goal. As the BFSI industry evolves into a more tech-enabled industry, it is imperative that we strengthen our expertise in the education space by adding new and emerging technologies. TalentSprint’s vision and portfolio offerings complement our growth ambitions in this space and we are very excited about this partnership.”
Earlier this year, NSE had launched an artificial intelligence (AI)-powered platform, NSE Knowledge Hub, to assist the banking, financial services and insurance (BFSI) industry and educational institutions in educating and skilling employees and students for the opportunities in the financial sector.
Santanu Paul, cofounder and CEO, TalentSprint said “There are six million working professionals in India today in need of deep tech knowledge interventions, and another ten million college students waiting to enter the workforce with adequate future-proof skills. Between us, we have all the necessary synergies – capabilities, reach, resources, partnerships – to become a powerhouse in deep tech education and empower the workforce of tomorrow.”
In the phase-wise acquisition of the stake, the NSE arm would acquire the total stake over a period of three years. Santanu Paul, cofounder and Chief Executive Officer of TalentSprint, would continue in the leadership position for three years.