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Today, it鈥檚 announced that , one of the most-funded education technology companies in the world, is acquiring for $120 million, according to executives from both companies. This comes roughly a month after led by private equity firm , which valued the edtech company at about $3.64 billion, post-money.

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Osmo develops and launched its app and a suite of educational toys that interact with its software platform through the camera of an iPad or Kindle Fire tablet. Kids can learn basic problem solving and spatial reasoning with these toys and through the game-like interface of the application.

Prior to its acquisition, Osmo had raised in outside funding, the last of which arrived in . , , and , among , are investors in Osmo. The company will continue operating as a separate brand of hardware and software products after the transaction is complete, according to a statement from the company. Osmo is Palo Alto-based and has about 60 employees.

, co-founder and CEO of Osmo, told Crunchbase News in a phone interview that the deal made strategic sense for both companies and kind of came by surprise.

Three months ago, Sharma said, Osmo had almost closed a new round of funding (for what would have been its Series C), when he met , co-founder and CEO of 叠驰闯鲍鈥橲. Realizing they had similar backgrounds鈥攂oth working in educational technology, both hailing from small villages in India鈥攁nd complementary businesses, acquisition talks proceeded quickly. 鈥淲e made the decision within a week,鈥� according to Sharma.

鈥淧latform-thinking is in our DNA,鈥� said Sharma, who, alongside his co-founder , quit software engineering jobs at Google to start Osmo. According to Raveendran, 叠驰闯鲍鈥橲 had been focused on 鈥渂uilding a content-driven platform鈥� built around what he referred to as 鈥渢he DNA of learning.鈥� Add to that that Osmo already had traction in a market segment and geography 叠驰闯鲍鈥橲 wanted to expand, and you鈥檝e got a corporate genetic match.

Raveendran said he鈥檚 known about Osmo鈥檚 product for awhile. 叠驰闯鲍鈥橲 had been working to develop and roll out content for a younger audience, aimed at kids between the ages of three and eight. Accordingly, Raveendran had a professional interest in tracking the market for young kids鈥� educational products, but he also had a personal reason: 鈥淚 have a five year-old son, and he鈥檚 been playing with Osmo for the past eight months.鈥�

Raveendran said that 叠驰闯鲍鈥橲 currently has 鈥渙ver 1,000 people鈥� working on video content and game development.

鈥淭his makes us one of the biggest studios in India,鈥� he said. Raveendran said his company is growing revenues by ten percent month-over-month. The application has 30 million registered students, two million of which pay for a subscription.

Osmo is the first U.S.-based company that 叠驰闯鲍鈥橲 has acquired, but it has made in the past. in the education technology company include , , , and the .

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