Coursera, Inc. (COUR) entered a merger agreement on December 17, 2025, to acquire Udemy, Inc. (UDMY) in an all-stock deal valued at $678.16 million.
Udemy stockholders will receive 0.8 shares of Coursera common stock for each share of Udemy common stock. The deal implies a value of $6.35 per Udemy share, representing a premium of 18.29% from the stock’s last close.
Udemy is an AI-powered global learning marketplace that provides on-demand, multi-language courses and enterprise solutions to help individuals and organizations upskill in technical, business, and soft skills.
Coursera is a global online learning platform that partners with leading universities and companies to offer courses, professional certificates, and degrees that help individuals and organizations build in-demand skills.
Upon closing, existing Coursera stockholders are expected to own roughly 59% of the combined company, and Udemy stockholders will own the remaining 41%.
The deal is expected to close by the second half of 2026.
Insight Venture Partners and New Enterprise Associates, key shareholders of Udemy and Coursera, respectively, as well as Andrew Ng, the Chairman of the Board of Coursera, have entered into support agreements and agreed to vote in favor of the deal.
Coursera CEO Greg Hart will continue as the Chief Executive Officer of the combined company. The Board of the combined company will consist of a total of nine directors, six from the Coursera Board, including Greg Hart and Andrew Ng, who will continue as Chairman of the Board, and three from the Udemy Board.
The combined company will operate under the name Coursera and be headquartered in Mountain View, California.
Morgan Stanley acted as financial advisors, and Wilson Sonsini Goodrich & Rosati provided legal counsel for Udemy. Coursera was advised financially by Qatalyst Partners, while Wachtell, Lipton, Rosen & Katz provided legal guidance.
Coursera is paying 1 times sales for Udemy.
For more information on this merger and acquisition deal, please visit the Deal Metrics page:
Deal Metrics for the acquisition of Udemy, Inc. (UDMY) by Coursera, Inc. (COUR)
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Editor’s Note: Baranjot Kaur contributed to this article