Coursera and Udemy have announced a definitive merger agreement under which Coursera will combine with Udemy in an all-stock transaction.
Based on the closing prices of Coursera and Udemy shares on 16 December 2025, the implied equity value of the combined company is approximately US$2.5 billion.
Greg Hart, CEO of Coursera, said,
“We are at a pivotal moment in which AI is rapidly redefining the skills required across industries. By combining the complementary strengths of Coursera and Udemy, we will be better positioned to address the global talent transformation, support innovation, and provide learning opportunities for our users, enterprise, university, and government customers, and instructors.”
Hugo Sarrazin, CEO of Udemy, added,
“Udemy has helped millions of people acquire in-demand skills over the past 15 years. This combination will allow us to expand our reach, accelerate our AI product development, and create benefits for learners, enterprise customers, and instructors, while delivering value to our shareholders.”
Under the terms of the agreement, Udemy shareholders will receive 0.800 shares of Coursera common stock for each Udemy share.
This represents a 26% premium based on the 30-day average closing prices before the announcement.
After completion, Coursera shareholders will hold around 59% of the combined company. Udemy shareholders will hold approximately 41% on a fully diluted basis.
Coursera intends to implement a share repurchase programme following the merger.
The boards of both companies have unanimously approved the agreement.
The merger is expected to close in the second half of 2026, subject to regulatory and shareholder approval and other customary conditions.
Insight Venture Partners and New Enterprise Associates, major shareholders of Udemy and Coursera respectively, along with Coursera Chairman Andrew Ng, have entered support agreements to vote in favour of the transaction.
The combined entity expects to achieve operational efficiencies and anticipates annual cost synergies of US$115 million within 24 months.
It will continue to invest in AI-driven learning platforms and product development.
Featured image credit: Edited by Fintech News Switzerland, based on image by pressfoto via Freepik
