India, July 28 -- Edtech major upGrad is in the final stages of acquiring edtech rival Unacademy in a transaction valued at Rs.1,955 Cr, with the signing process almost complete, as per sources familiar with the amalgamation deal.

A senior executive aware of the development told Inc42, on the condition of anonymity, that almost all institutional investors have signed the share subscription agreement (SSA), while all angel investors have signed the share purchase agreement (SPA). The deal is expected to close within the next three weeks.

As part of the transaction, Unacademy cofounder and CEO Gaurav Munjal will continue to lead the startup after the acquisition.

Language learning platform Airlearn, which was incubated within Unacademy, ...