Coursera to Acquire Udemy in $2.5 Billion All-Stock Deal

Coursera and Udemy have agreed to combine in an all-stock transaction that values the merged company at approximately $2.5 billion, bringing together two of the largest U.S.-based online education platforms amid growing consolidation in the sector.

Under the terms of the deal, Udemy shareholders will receive 0.8 shares of Coursera stock for each Udemy share they own, implying a valuation of roughly $930 million for Udemy based on recent share prices. Following completion, Coursera shareholders are expected to hold about 59% of the combined entity, with Udemy shareholders owning the remaining 41%. The transaction is expected to close in the second half of 2026, subject to regulatory and shareholder approvals.

The merger comes as online education companies adjust to slower consumer enrollment growth after the pandemic-era surge. Both firms have increasingly emphasized enterprise customers and subscription-based revenue as competition intensifies and investor scrutiny remains elevated across the sector.

Coursera has built its business around partnerships with universities and institutions, offering degrees, certificates and professional programs, while Udemy operates a marketplace of independent instructors selling courses and business subscriptions. The combined platform is expected to focus on workforce training, particularly in areas such as artificial intelligence, data science and software development, as employers invest in reskilling employees amid rapid advances in generative AI.

Financially, the companies project that the combined business will generate more than $1.5 billion in annual revenue on a pro forma basis. They also anticipate achieving annual run-rate cost synergies of about $115 million within two years of closing, largely through operational efficiencies.

Following the merger, Coursera will remain the public-facing brand, continue trading on the New York Stock Exchange under the ticker COUR, and maintain its headquarters in Mountain View, California. Coursera CEO Greg Hart will lead the combined company, while Udemy’s stock will be delisted from Nasdaq once the transaction is completed.