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Startup Byju’s Pushes Back Payments for $1 Billion Acquisition

  • Indian startup has asked for more time to make payments
  • Company agreed to buy Aakash from Blackstone, others last year

Online education provider Byju’s, India’s most valuable startup, is pushing back payments for an approximately $1 billion acquisition struck last year, according to people familiar with the matter.

Blackstone Inc. and other shareholders of test-preparation provider Aakash Educational Services were due to be paid partly in cash and partly in Byju’s stock this week, but Byju’s sought a two-month extension, said the people, who asked not to be identified discussing a private matter. Some sellers received partial payment in 2021, the people said. Blackstone, which owned 38% of Aakash, opted to defer payments due until this year, one of the people said.