Coursera in its all-stock merger with Udemy

On December 17, 2025, Coursera, Inc. (NYSE: COUR) and Udemy, Inc. (NASDAQ: UDMY) 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.  The transaction unites Udemy’s dynamic AI-powered skills development marketplace with world-class university and industry brands under the Coursera ecosystem.  The combined company will operate under the name Coursera, and continue to operate as a Delaware Public Benefit Corporation (PBC).

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Coursera.