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Coursera and Udemy have announced plans to merge in an all-stock deal. The combined company will have an implied valuation of around $2.5 billion and a pro forma annual revenue of more than $1.5 billion. If approved, the merger is expected to close in the second half of 2026.

At a time when artificial intelligence is changing how people work and what skills employers demand, this deal looks less like a routine business merger and more like a strategic bet on the future of learning. Both companies serve millions of learners, but they approach education from different angles. Coursera is known for its university-led courses, professional certificates, and structured degree programs. Udemy, on the other hand, has built a massive marketplace of practical, fast-moving courses created by industry professionals.

By coming together, the two platforms aim to offer a single ecosystem that covers everything from academic foundations to job-ready, hands-on skills. In theory, a learner could move from a university-backed AI fundamentals course on Coursera to a practical Udemy class on deploying real-world AI tools, all within one platform.

From a financial standpoint, the merger also makes sense. The companies expect annual cost savings of about $115 million within two years of closing. These savings could give the combined company more room to invest in AI-driven features, new products, and global expansion. Coursera has also indicated that it plans to launch a large share buyback program after the deal is completed, which may help reassure investors.

For Udemy shareholders, the deal includes a clear premium. Each Udemy share will be converted into 0.800 shares of Coursera stock, representing a roughly 26 percent premium based on recent average prices. After the merger, Coursera shareholders will hold about 59 percent of the combined company, while Udemy shareholders will own around 41 percent.

The merger is not without questions. Integrating two very different platforms, cultures, and instructor models will be a complex task. Udemy’s open marketplace approach is very different from Coursera’s more curated, institution-driven model. How these two philosophies blend will likely determine whether the combined platform feels powerful or confusing to users.

There is also the regulatory aspect. The deal still needs approval from regulators and shareholders, and any delays could push the timeline further out. Competition in the edtech space is also intense, with players like LinkedIn Learning, Google, and emerging AI-native platforms moving quickly.

Still, if executed well, this merger could create one of the most influential learning platforms in the world.

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