Coursera and Udemy have agreed to combine in an all-stock transaction to create a unified platform for skills discovery and development, specifically aimed at empowering the global workforce for the AI era. The merger unites Coursera's network of top university and industry credentials with Udemy's expansive marketplace of practitioner-led courses, aiming to deliver greater choice, accelerated innovation, and a stronger financial profile with over $1.5 billion in pro forma annual revenue.
Coursera and Udemy enter a definitive all-stock merger agreement.
The combined platform aims to lead the global skills transformation for the AI era.
Udemy shareholders will receive 0.800 shares of Coursera stock per share held.
The deal implies a 26% premium for Udemy based on a 30-day average.
Combined pro forma annual revenue exceeds $1.5 billion.
$115 million in annual run-rate cost synergies anticipated within 24 months.
The strategic rationale centers on combining highly complementary models to address the full spectrum of learner and organizational needs. Coursera brings authoritative, structured content from over 375 university and industry partners, ideal for foundational knowledge and accredited credentials. Udemy contributes a vast, agile library of on-demand, often niche skills courses created by global subject matter experts, popular for immediate, job-specific upskilling. Together, they intend to offer a seamless journey from skill discovery to verified mastery.
A key driver is the need for faster innovation to keep pace with AI-driven skill obsolescence. The combined company plans to leverage shared AI, data, and technology investments to build more personalized and dynamic learning experiences. The merger also significantly expands global reach and go-to-market capabilities, allowing the platform to better serve millions of individual learners and thousands of enterprise and government customers worldwide with localized, relevant content.
Under the terms, Udemy stockholders will receive 0.800 shares of Coursera common stock for each Udemy share, representing a 26% premium. Post-merger, Coursera stockholders will own approximately 59% of the combined company, with Udemy stockholders owning approximately 41%. The combined company, which will retain the Coursera name and NYSE ticker (COUR), expects to realize approximately $115 million in annual cost synergies within two years. Coursera CEO Greg Hart will lead the combined entity, with a board comprising six directors from Coursera and three from Udemy.
“We’re at a pivotal moment in which AI is rapidly redefining the skills required for every job across every industry. Organizations and individuals around the world need a platform that is as agile as the new and emerging skills learners must master,” said Greg Hart, CEO of Coursera.
“For more than 15 years, Udemy has helped millions of people master in-demand skills at the speed of innovation,” said Hugo Sarrazin, CEO of Udemy. “Through this combination with Coursera, we will create meaningful benefits for our learners, enterprise customers, and instructors, while delivering significant value to our shareholders.”
The proposed merger represents a watershed moment for the EdTech sector, signaling a move toward consolidation to achieve the scale and technological capability required to meet the global reskilling challenge. It positions the combined entity as a dominant force in the lifelong learning market, with the resources to shape the future of how skills are delivered and validated in the age of AI.
About Coursera
Coursera was launched in 2012 by Andrew Ng and Daphne Koller with a mission to provide universal access to world-class learning. Today, it is one of the largest online learning platforms in the world, with 191 million registered learners as of September 30, 2025. Coursera partners with over 375 leading university and industry partners to offer a broad catalog of content and credentials, including courses, Specializations, Professional Certificates, and degrees. Coursera’s platform innovations — including generative AI-powered features like Coach, Role Play, and Course Builder, and role-based solutions like Skills Tracks — enable instructors, partners, and companies to deliver scalable, personalized, and verified learning. Institutions worldwide rely on Coursera to upskill and reskill their employees, students, and citizens in high-demand fields such as GenAI, data science, technology, and business, while learners globally turn to Coursera to master the skills they need to advance their careers. Coursera is a Delaware public benefit corporation and a B Corp.
About Udemy
Udemy is an AI-powered skills acceleration platform transforming how companies and individuals across the world build the capabilities needed to thrive in a rapidly evolving workplace. By combining on-demand, multi-language content with real-time innovation, Udemy delivers personalized experiences that empower organizations to scale workforce development and help individuals build the technical, business, and soft skills most relevant to their careers. Today, thousands of companies, including Ericsson, Samsung SDS America, ON24, Tata Consultancy Services, The World Bank, and Volkswagen, rely on Udemy Business for its enterprise solutions to build agile, future-ready teams. Udemy is headquartered in San Francisco, with hubs across the United States, Australia, India, Ireland, Mexico, and Türkiye.
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