Edtech decacorn Byju's has closed the deal to acquire exam preparation firm Aakash Educational Services Limited (AESL) for nearly $1 billion. The stock-and-cash deal is the biggest in the education space. said sources. Byju's said the deal is a strategic partnership with AESL, a leader in test-prep services. 1 am happy to have Aakash Educational Services Limited (AESL), a market leader and the most trusted name in the test-prep services. on board with us," said Byju Raveendran, Founder, and CEO, Byju's. Our complementary strengths will enable us to build capabilities, create engaging and personalized learning programs. The future of leaming is hybrid and this union will bring together the best of offline and online learning, as we combine our expertise to create impactful experiences for students." This partnership brings together two of the largest and most-trusted education brands in India -combining Aakash's pedagogy expertise in the test-prep segment with Byju's content and tech capabilities. After the integration, Byju's will make further investments to accelerate Aakash's growth. ( Source: Business Standard dated April 5, 2021).

Q1) Do you think the merger of Byju's with Aakash Educational services ltd creates synergies that will benefit the merged entity? Justify your answer. What potential risks could the merged entity face in near future?