Online education leaders Coursera and Udemy have announced a definitive merger agreement, creating a combined entity valued at approximately $2.5 billion. This all-stock transaction unites two of the industry’s most prominent platforms to redefine global skills development, particularly as demand accelerates around artificial intelligence and workforce reskilling.
A Landmark Consolidation in Online Education
Under the agreement, Udemy stockholders will receive 0.800 Coursera shares for each Udemy share. The exchange ratio represents a 26% premium to Udemy’s 30-day volume-weighted average share price prior to the announcement. Upon closing, Coursera and Udemy shareholders will own approximately 59% and 41% of the combined company, respectively, on a fully diluted basis. The new entity will operate under the Coursera name, with CEO Greg Hart continuing to lead the organization.
Strategic and Financial Rationale
The merger is designed to create a more comprehensive learning platform by combining Coursera’s deep university and institutional partnerships with Udemy’s open, instructor-led content marketplace. Together, the companies aim to serve individual learners, enterprises, and governments with a broader range of credentials, professional courses, and practical skills training.
From a financial perspective, the combined company is expected to generate more than $1.5 billion in pro forma annual revenue. Management projects annual cost synergies of approximately $115 million within 24 months of closing, driven by operational efficiencies and reduced overhead. Following completion, the company also plans to implement a significant share repurchase program to enhance long-term shareholder value.
The AI Imperative in Workforce Development
Artificial intelligence is a central driver behind the transaction, as both companies position themselves to address rapidly shifting skill requirements across industries. Demand for AI literacy, technical upskilling, and continuous learning has surged, creating pressure for platforms that can update content quickly and deliver measurable outcomes.
Coursera has expanded its AI initiatives through integrations with OpenAI and Anthropic, while Udemy has introduced AI-powered microlearning experiences to personalize training at scale. By combining resources, the companies aim to accelerate AI-native product development and expand access to job-relevant skills worldwide.
Path to Completion
The transaction has received unanimous approval from the boards of both companies and is expected to close in the second half of 2026. Completion remains subject to customary conditions, including shareholder approvals and regulatory clearances. Several key shareholders from both Coursera and Udemy have already entered into voting and support agreements, signaling strong backing for the deal.
The merger of Coursera and Udemy marks a major consolidation in the online education sector. The combined platform is positioned to become a dominant global player in AI-driven workforce training, with the scale, content breadth, and technology needed to meet the evolving demands of learners and enterprises worldwide.