Coursera and Udemy said they will combine in an all-stock transaction aimed at expanding access to job-relevant skills as AI reshapes labor markets, creating a larger online learning platform with a global reach and a pro forma equity value of about US$2.5 billion.
The companies said the merger reflects rising demand from individuals and organizations for faster skills discovery and development as AI alters roles across industries. “Organizations and individuals around the world need a platform that is as agile as the new and emerging skills learners must master,” said Greg Hart, CEO, Coursera in a statement announcing the agreement, adding that the combination is intended to accelerate innovation and improve outcomes for learners and enterprise customers.
The transaction brings together two businesses with different but complementary models. Coursera, founded in 2012, built its platform around partnerships with universities and industry groups, offering courses, professional certificates and degrees to a large global audience. Udemy, founded earlier, developed a marketplace centered on instructors and on-demand content, with a growing focus on enterprise training through Udemy Business. Executives from both companies said the combination is designed to broaden choice for learners while strengthening offerings for companies and governments seeking workforce training.
The announcement comes as online learning continues to expand alongside structural shifts in employment. Coursera’s 2025 Learning Outcomes Report, produced with The Harris Poll, found that 88% of learners in Mexico used the platform to support a career transition, a first job or advancement to a higher-level role. Ninety-one percent reported a positive professional outcome after completing a course, including salary increases, promotions or improved job performance. The report analyzed responses from more than 50,000 learners across 179 countries and highlighted the role of digital education in labor markets undergoing rapid change.
Industry estimates cited in the report show that nearly 74 million people worldwide engaged in online learning in 2024, compared with a fraction of that number two decades earlier. Forecasts project the global e-learning market could approach US$400 billion by 2026. In Mexico, where projections indicate that about 40% of workforce skills could change within five years, companies and workers are increasingly turning to online platforms to reskill and upskill.
Executives say AI is accelerating these trends. Hugo Sarrazin, CEO, Udemy said the combined company plans to advance its AI-powered product roadmap while expanding its global reach. He said the transaction is expected to generate operating efficiencies and revenue opportunities while supporting long-term investment. Under the agreement, Udemy shareholders will receive 0.800 shares of Coursera common stock for each Udemy share, a premium of about 26% to recent average prices. Coursera shareholders are expected to own about 59% of the combined company, with Udemy shareholders holding about 41%.
The companies project pro forma annual revenue of more than US$1.5 billion and anticipate annual run-rate cost synergies of US$115 million within 24 months of closing. Coursera said it expects to execute a share repurchase program after the transaction is completed. The deal was unanimously approved by both boards and is expected to close in the second half of 2026, subject to regulatory and shareholder approvals.
Leadership and governance plans call for Hart to remain CEO, with Coursera Chairman Andrew Ng continuing in that role. The combined company will operate under the Coursera name, trade on the New York Stock Exchange under the ticker COUR and be headquartered in Mountain View, California. Udemy’s stock will be delisted from Nasdaq following completion. Coursera will retain its status as a public benefit corporation.
The merger builds on Coursera’s recent efforts to integrate AI more deeply into its platform and distribution. In October, Coursera became the first online learning platform to integrate directly into ChatGPT, allowing users to access educational videos and verified information within conversations on OpenAI’s interface. Hart said at the time that placing trusted learning content within widely used AI tools could help people gain skills needed for future jobs. OpenAI said more than 800 million people use ChatGPT weekly, giving Coursera a broader channel to reach learners.
Coursera has also rolled out AI tools such as Coursera Coach, which provides personalized guidance to learners. In early results cited by the company, most users who interacted with the tool said it helped them understand complex concepts. Udemy has likewise emphasized AI-driven personalization in its marketplace, particularly for enterprise customers seeking to map training to business needs.
Analysts say the combination reflects consolidation pressures in the online learning sector as platforms seek scale, data and diversified revenue streams. Employers are increasingly looking for verified skills and measurable outcomes, while learners expect flexible, on-demand content aligned with fast-changing roles. By combining university-backed credentials with a large instructor marketplace, the companies aim to address both demands.
The broader labor context underscores the strategy. Human resources leaders in Mexico have identified AI and automation as priorities, with predictive models already being used to reduce turnover and improve hiring. Executives cited in Coursera’s research said education now plays a role beyond skill acquisition, supporting confidence and adaptability as roles evolve.
Coursera and Udemy said they will host a joint investor call to discuss the transaction and outlined plans to continue investing in AI-native features and global localization.