Investing.com-- Blackstone Inc (NYSE:BX) is evaluating a potential exit from edtech firm Simplilearn, where it holds a majority stake, Mint reported on Friday citing four people familiar with the matter.
Blackstone acquired over 60% of India-headquartered Simplilearn in 2021 for approximately $250 million. It has now engaged investment bankers to gauge interest from potential buyers, the report said.
However, a sale is not certain, as Blackstone is also in the process of raising $10 billion globally, according to the Mint report.
A Simplilearn spokesperson denied that any exit discussions were underway or that investment bankers had been engaged, the report added.
Simplilearn provides live online learning programs to over 8 million users per month. The company has raised close to $300 million in equity funding and was valued at $600 million in 2022 after securing capital from GSV Ventures and other investors.
Its expansion aligned with a broader surge in edtech investments in 2021, Mint reported.