all-stock transaction

Mountain View, CA / San Francisco, CA (USA), January 2026 - Coursera, Inc. and Udemy, Inc. have announced that they have entered into a definitive merger agreement under which Coursera will combine with Udemy in an all-stock transaction. Based on the closing prices of Coursera and Udemy common stock on December 16, 2025, the implied equity value of the combined company is approximately $2.5 billion.