Coursera and Udemy combine to form global learning platform

The merger brings together two global edtech leaders to accelerate AI-driven skills development and expand enterprise, academic, and government reach worldwide.

Greg Hart, CEO of Coursera

Coursera and Udemy announced that they have signed a definitive agreement to merge in an all-stock transaction, uniting two of the most established digital learning platforms in the global education market.

Based on the companies’ closing share prices on December 16, the transaction values the combined entity at approximately $2.5 billion. Under the terms of the deal, Udemy shareholders will receive 0.8 shares of Coursera common stock for each Udemy share they hold, representing a 26% premium compared with the average closing prices of both companies over the previous 30 trading days.

Following the completion of the transaction, Coursera shareholders are expected to own about 59% of the combined company, while Udemy shareholders will hold approximately 41%, on a fully diluted basis. Coursera also indicated that the merged company plans to implement a substantial share repurchase program after the deal closes.

The merger has received unanimous approval from the boards of directors of both companies and is expected to close in the second half of 2026, pending regulatory clearances, shareholder approvals, and other customary closing conditions.

Key investors, including Insight Venture Partners and New Enterprise Associates, along with Andrew Ng, Coursera’s board chairman, have entered into support agreements committing to vote in favor of the transaction.

According to Greg Hart, CEO of Coursera, the deal comes at a critical moment for the global workforce. “AI is fundamentally reshaping the skills required across every industry. Learners and organizations need platforms that can evolve as fast as those skills,” he said. Hart added that the combination will accelerate innovation, strengthen product development, and expand the company’s ability to serve learners and institutions worldwide.

Udemy brings to the merger a vast ecosystem of instructors, including university faculty, industry leaders, and subject-matter experts, along with AI-powered tools designed to personalize learning experiences and improve outcomes.

“For over 15 years, Udemy has helped millions of people build in-demand skills at the pace of change,” said Hugo Sarrazin, CEO of Udemy. He noted that the merger will expand global reach, accelerate AI-enabled product development, and unlock meaningful revenue and operational synergies, while delivering long-term value to shareholders.

Once the transaction is finalized, Hart will remain CEO of the combined company. The new board will consist of nine directors, six from Coursera (including Hart and Ng, who will continue as chairman) and three from Udemy.

The merged organization will operate under the Coursera name, trade on the NYSE under the ticker COUR, and maintain its headquarters in Mountain View, California. Udemy’s shares will be delisted from NASDAQ upon completion of the deal. Coursera will retain its status as a public benefit corporation.