Shares of Udemy (NASDAQ:UDMY) surged 25.7% in premarket trading on Wednesday after education technology peer Coursera (NYSE:COUR) announced an agreement to acquire the online learning platform through an all-stock transaction. Coursera’s own shares also moved higher, rising 10% ahead of the market open.
Under the terms of the deal, Udemy shareholders will receive 0.800 shares of Coursera common stock for each Udemy share they own. Based on the average closing prices of both stocks over the 30 trading days prior to the announcement, the exchange ratio represents a premium of roughly 26%. Using closing prices from December 16, the combined company is valued at approximately $2.5 billion.
The transaction will bring together two major players in education technology, creating a platform with pro forma annual revenue exceeding $1.5 billion. The companies expect to generate annual run-rate cost synergies of about $115 million within two years of closing.
“For more than 15 years, Udemy has helped millions of people master in-demand skills at the speed of innovation,” said Hugo Sarrazin, CEO of Udemy. “Through this combination with Coursera, we will create meaningful benefits for our learners, enterprise customers, and instructors, while delivering significant value to our shareholders.”
Once the deal is completed, Coursera shareholders are expected to own approximately 59% of the combined business, while Udemy shareholders will hold the remaining 41%. The merged company will operate under the Coursera name, trade on the New York Stock Exchange under the ticker symbol COUR, and maintain its headquarters in Mountain View, California.
Coursera’s Chief Executive Officer, Greg Hart, will continue to lead the combined organization, with Coursera Chairman Andrew Ng remaining in his current role. The new Board of Directors will consist of nine members, including six representatives from Coursera and three from Udemy.
The acquisition has received unanimous approval from the boards of both companies and is expected to close in the second half of 2026, pending regulatory clearances and approval from shareholders.