---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-323401"
form_type: "8-K"
ticker: "UDMY"
cik: "0001607939"
company_name: "Udemy, Inc."
filed_at: "2025-12-18T23:59:59+00:00"
generated_at: "2026-05-16T12:44:46.019443+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Udemy to be acquired by Coursera in all-stock deal: 0.800 Coursera shares per Udemy share

## Summary
- Each Udemy share converts into 0.800 Coursera shares; no fractional shares, cash in lieu.
- Udemy board unanimously approved; recommends stockholders vote for adoption.
- Insight Venture Partners (~26% of Udemy) and NEA/Andrew Ng (~12% of Coursera) entered voting agreements to support deal.
- Termination fee of $40.5M payable by Udemy to Coursera in certain circumstances, e.g., change of recommendation.
- Closing requires Udemy stockholder adoption, Coursera stockholder approvals, HSR clearance; target close by Dec 17, 2026 with possible extension.

## SEC filing metadata
- accession: 0001193125-25-323401
- form_type: 8-K
- ticker: UDMY
- cik: 0001607939
- company_name: Udemy, Inc.
- filed_at: 2025-12-18T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1607939/000119312525323401/0001193125-25-323401-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1607939/000119312525323401/d667577d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-323401
- JSON: https://secwatch.observer/filing/0001193125-25-323401.json
- Plain text: https://secwatch.observer/filing/0001193125-25-323401.txt

## Key facts
- Material Agreements
  Udemy, Inc. entered into Merger Agreement with Coursera, Inc. and Chess Merger Sub, Inc. (effective 2025-12-17).
  - Action: entry
  - Agreement: merger
  - Counterparty: Coursera, Inc. and Chess Merger Sub, Inc.
  - Effective: 2025-12-17
  source text: Udemy, Inc. (the “ Company ” or “ Udemy ”) entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) with Coursera, Inc. (“ Coursera ”) and Chess Merger Sub, Inc.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1607939/000119312525323401/0001193125-25-323401-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.