UpGrad, Unacademy file application with CCI for merger

Edtech firms UpGrad and Unacademy have filed for antitrust clearance with the CCI for their proposed merger. UpGrad will acquire Unacademy in an all-stock deal, valuing the test-prep startup at Rs 2,055 crore, a significant markdown from its 2021 peak. The transaction is anticipated to close in June-July.