Coursera Udemy merger cleared by CCI, with Udemy to become wholly owned subsidiary

The Competition Commission of India on Wednesday cleared Coursera’s plan to merge its unit, Chess Merger Sub, with Udemy Inc. The approval allows the proposed combination to move ahead under an all-stock structure. After the deal closes, Udemy will continue as a wholly-owned subsidiary of Coursera, the regulator said.

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The regulator said the merger pairs Udemy Inc with Chess Merger Sub, a newly formed company fully owned by Coursera Inc. Chess Merger Sub was created only to carry out this transaction. Coursera shareholders are expected to hold about 59 per cent of the merged firm. Udemy stockholders are expected to hold about 41 per cent.

Coursera Udemy merger agreement and deal value

Coursera and Udemy announced the merger plan in December 2025. The companies said they signed a definitive merger agreement for an all-stock transaction. The Competition Commission of India noted the implied equity value of the combined company. It is estimated at about USD 2.5 billion.

Coursera Udemy online learning platforms and India presence

Coursera is a global education technology company that runs an online learning platform. In India, Coursera mainly serves learners through cross-border digital delivery. Coursera also operates through its subsidiary, Coursera India Pvt Ltd. The CCI approval covered the proposed amalgamation involving Coursera’s merger unit and Udemy.

Udemy runs a global online learning and teaching marketplace. Udemy provides services through digital delivery and does not depend on any specific offline infrastructure. The company’s activities are fully online and international in nature. Under the approved structure, Udemy will remain in place after the merger, but under Coursera ownership.

With inputs from PTI