Zhi Tong Cai Jing·2025-12-17 15:28Core Viewpoint - The online education platforms Coursera and Udemy have announced a final merger agreement, creating a larger integrated online learning platform with an implied equity value of approximately $2.5 billion [1][2]. Group 1: Merger Details - The merger will occur through an all-stock transaction where Udemy shareholders will exchange each share of Udemy for 0.8 shares of Coursera common stock, representing a 26% premium over Udemy's average closing price over the past 30 trading days [1]. - The combined company is expected to have an annual revenue exceeding $1.5 billion post-merger and anticipates achieving approximately $115 million in annual run-rate cost synergies within 24 months after the transaction closes [1]. Group 2: Strategic Implications - The unified platform aims to accelerate an AI-driven product roadmap, enhance global reach through stronger market expansion capabilities, and unlock significant revenue and operational synergies to strengthen long-term financial performance [2]. - The merger has received unanimous approval from the boards of both Coursera and Udemy, with the transaction expected to close in the second half of 2026 [2].