The Cape Town-based EdTech firm GetSmarter has been acquired by Nasdaq-listed 2U, the global digital education firm disclosed in a statement.

The deal is valued at $103 million (R1.4 billion), according to a Forbes report.

“The acquisition of GetSmarter is expected to accelerate our growth, extend our global footprint and provide a broader suite of services by matching more students to the right digital education opportunities – whether graduate programs or short course certificates,” Christopher “Chip” Paucek, CEO and co-founder of 2U, said in a statement.

GetSmarter powers engaging online short courses in partnership with some of the world’s most renowned higher education institutions, including the University of Cambridge; the London School of Economics; Harvard University’s strategic online learning initiative, HarvardX; the University of Chicago; Massachusetts Institute of Technology (MIT); and Africa’s top three universities: University of Cape Town, University of the Witwatersrand and University of Stellenbosch Business School.

“With this acquisition, we expect to expand our total addressable market while strengthening our position as a global leader in delivering high-quality, high-touch, digital education focused on student outcomes. We welcome the GetSmarter employees to the 2U team,” said Chip.

GetSmarter is a leader in collaborating with universities to offer premium online short courses to working professionals.

GetSmarter Logo
GetSmarter Logo (Photo Credit: GetSmarter FB page)

“We are proud and delighted to be joining the 2U family,” Sam Paddock, CEO and co-founder of GetSmarter.

“We now have an even stronger base from which to fully realize our potential in a global market and serve our stakeholders.”

GetSmarter was founded in 2008 with an online course in Wine Evaluation by brothers Sam and Rob Paddock in Cape Town.

Today, its global alumni community is over 50,000 lifelong learners strong; and the company  intend to improve a total of 1,000,000 lives through better education by 2030.