India, March 15 -- Almost three months after upGrad and Unacademy merger talks failed over a valuation mismatch, Unacademy cofounder Gaurav Munjal took to social media platform X today (Sunday, March 15) announcing that upGrad had signed a term sheet to acquire 100% stake in Unacademy.

In his post, Munjal said that the deal is a share swap deal, without disclosing the deal size.

As a part of the deal, Munjal will continue to remain as the CEO and cofounder of Unacademy. He added that moving forward AI will play a key role in Unacademy's next growth.

Ronnie Screwvala, founder of upGrad, confirmed the acquisition, which also includes Unacademy's other verticals. "They (Unacademy) disrupted the sector once, and now with AI they plan to do...