Coursera, Udemy join forces in $2.5-billion deal to build an AI-first learning giant

In a move that underscores how rapidly artificial intelligence is reshaping the global skills economy, online learning giants Coursera and Udemy have announced a merger that will create one of the world’s largest digital education platforms.

Structured as an all-stock transaction, the deal values the combined entity at around $2.5 billion, based on the companies’ closing stock prices on December 16, 2025. Beyond the numbers, the merger reflects a broader strategic shift in edtech, where scale, speed and AI integration are becoming critical to staying relevant in an increasingly competitive market.

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The combination brings together two platforms with distinct but complementary strengths. Coursera, founded in 2012 by Andrew Ng and Daphne Koller, has built its business around partnerships with universities, governments and enterprises, offering degree programmes, professional certificates and structured learning pathways. Udemy, on the other hand, has scaled rapidly through its open marketplace model, hosting a vast catalogue of courses created by industry practitioners and focused on quickly monetisable, in-demand skills.

“This is a pivotal moment where AI is redefining the skills required for nearly every job,” said Greg Hart, CEO of Coursera, who will continue to lead the combined company. He positioned the merger as a way to accelerate innovation and deliver more adaptive learning solutions to individuals and organisations navigating constant change.

Udemy CEO Hugo Sarrazin struck a similar note, highlighting the opportunity to execute faster on an AI-driven product roadmap while expanding global reach. For Udemy shareholders, the deal offers a clear premium: each Udemy share will be exchanged for 0.800 shares of Coursera, translating into a 26 percent premium over Udemy’s 30-day average share price prior to the announcement. After the transaction, Coursera shareholders are expected to hold about 59 percent of the merged company, with Udemy shareholders owning the remaining 41 percent.

Cost efficiencies are a key part of the rationale. The companies expect annual run-rate synergies of roughly $115 million within two years of closing, driven by overlapping operations, technology consolidation and streamlined go-to-market efforts. These savings, Coursera said, will be channelled into building AI-native learning experiences, faster product launches and deeper localisation across international markets. The company has also signalled plans for a significant share buyback programme once the merger is completed.

On the governance front, continuity appears to be a priority. The merged entity will retain the Coursera brand, continue to trade on the New York Stock Exchange under the ticker COUR, and remain headquartered in Mountain View, California. Andrew Ng will stay on as chairman, and Coursera’s status as a Public Benefit Corporation will be preserved, maintaining its formal commitment to expanding access to quality education.

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The merger has received unanimous approval from both boards and is expected to close in the second half of 2026, subject to regulatory clearances and shareholder consent. If completed, it would mark one of the most significant consolidations in the edtech sector to date—one that signals how platforms are repositioning themselves for an AI-first future, where lifelong learning is no longer optional but essential.