Online tutoring company Byju's announced yesterday that it has acquired Osmo, developer of educational games for children, for $120 million.
As reported by Tech Crunch, Osmo was offered a cash option, but elected for an all-stock payout.
The acquisition will reportedly help Byju’s offer a broader range of learning solutions to children between the age of 3 and 8 by tapping into Osmo’s tech.
This seems to makes sense, as Byju's focus is aimed at creating immersive content offered through personalized learning experiences for students.
Founded by former Google employees Sharma and Jerome Scholler, Osmo was launched back in 2013 and is known for developing a series of digital and offline learning apps tied to customized hardware for iPads and Android tablets.
These augmented reality apps integrate offline activities to help children between 5 and 12 learn, and according to Sharma, have been incorporated into around 20,000 schools in the United States.