Udemy Acquired by Prosus for $1.5 Billion

TL;DR

Udemy going private! Prosus buying for $1.5B cash, deal expected Q4.

AI Summary

Udemy, Inc. announced on October 23, 2024, that it has entered into a definitive agreement to be acquired by Prosus N.V. for $17.00 per share in cash. This transaction values Udemy at approximately $1.5 billion. The acquisition is expected to close in the fourth quarter of 2024, subject to customary closing conditions.

Why It Matters

This acquisition marks a significant shift for Udemy, moving from a public company to being part of a larger global edtech group, potentially impacting its strategy and offerings.

Risk Assessment

Risk Level: medium — The deal is subject to customary closing conditions, which introduces a degree of uncertainty until completion.

Key Numbers

• $1.5B — Acquisition Value (Total price Prosus is paying for Udemy.)
• $17.00 — Per Share Price (Cash amount each Udemy shareholder will receive.)

Key Players & Entities

• Udemy, Inc. (company) — Company being acquired
• Prosus N.V. (company) — Acquiring company
• $17.00 (dollar_amount) — Per share acquisition price
• $1.5 billion (dollar_amount) — Total acquisition value
• October 23, 2024 (date) — Date of definitive agreement
• fourth quarter of 2024 (date) — Expected closing period

FAQ

Key Financial Figures

• $0.00001 — ange on which registered Common Stock, $0.00001 par value per share UDMY The Nasdaq Sto

Filing Documents

• udmy-20241023.htm (8-K) — 28KB
• q32024pressrelease.htm (EX-99.1) — 338KB
• 0001607939-24-000186.txt ( ) — 515KB
• udmy-20241023.xsd (EX-101.SCH) — 2KB
• udmy-20241023_lab.xml (EX-101.LAB) — 22KB
• udmy-20241023_pre.xml (EX-101.PRE) — 13KB
• udmy-20241023_htm.xml (XML) — 3KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition On October 29, 2024, Udemy, Inc. (the "Company") issued a press release announcing its financial results for the quarter ended September 30, 2024. A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated by reference herein. The information in Item 2.02 of this Current Report on Form 8-K, including the accompanying Exhibit 99.1, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of Section 18. The information in Item 2.02 of this Current Report on Form 8-K, including the accompanying Exhibit 99.1, shall not be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language contained in such filing.

02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers On October 23, 2024, the Company and Prasad Raje agreed that Mr. Raje would transition from his role as Chief Product Officer, effective October 28, 2024, and separate from the Company's employment following a transition period ending on March 31, 2025.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit Number Description 99.1 Press release dated October 29, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. UDEMY, INC. Date: October 29, 2024 By: /s/ Sarah Blanchard Sarah Blanchard Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR