McGraw Hill is set to exit the language learning platform developer in an all-cash acquisition by Chegg that will help it expand in the United States.

Education technology provider Chegg agreed yesterday to purchase UK-based language learning app developer Busuu yesterday for approximately $436m in cash, allowing educational publisher McGraw Hill to exit.

Founded in 2008, Busuu operates a social media platform enabling users to learn foreign languages, combining artificial intelligence-powered courses and a community of native speakers.

The company has more than 500,000 paying subscribers learning a total of 12 languages, and the acquisition is set to boost its presence in the US market.

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
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