Skyeng, one of the leading Russian edtech companies, is buying Kodium, an online programming school for children. The deal is scheduled to close in the near future, its terms were not disclosed yet.
Following the closing of the deal, the school's training courses will be adapted to the Skysmart interactive educational platform for children and adolescents (part of Skyeng ecosystem). This unit will be headed by Maxim Vasiliev, CEO of Kodium.
The practices of key international players show a global trend towards industry consolidation and Russia is not an exception, Alexander Laryanovsky, the Managing Partner of Skysmart, said. Kodium is able to create the best product on a global scale, being one of the fastest growing online programming schools on Russia as well, he adds.
Maxim Vasiliev, the CEO of Kodium
Online school Kodium was founded by entrepreneur Maxim Vasiliev in 2019. The school teaches programming to children from 6 to 15 years old. The company cooperates with 180 teachers from different countries. Skyeng is ranked number 13 in Forbes' top 20 most valued Russian internet companies in 2020, with its valuation estimated at $130 million.
Sistema Public Joint Stock Financial Corporation