New Delhi, Nov. 7 -- Temasek-backed upGrad is looking to acquire Unacademy in what may be one of the biggest consolidation moves in India's edtech sector.

Moneycontrol was the first to report on the development, saying that the two companies expect to sign the deal in the next three weeks. The deal will value Unacademy at about $300-$400 million ( Rs.2,500-3,300 crore), as per the report. The company was last valued at around $3.4 billion (around Rs.28,000 crore) in its private funding in 2021.

While this deal potentially gives upGrad an entry into test prep, the company's interest in Unacademy may have less to do with its students. Mint unpacks the potential deal between the two firms and what it means for the edtech sector.

Temasek-b...