Byju’s is in advanced stages of talks to acquire Doubtnut, a two-year-old education learning app, as the Indian edtech giant looks to expand its reach in smaller cities and towns in the world’s second largest internet market.

Three sources familiar with the matter told TechCrunch that the acquisition offer from nine-year-old Byju’s values the younger startup between $125 million to $150 million. The talks haven’t finalized yet and its terms could change or the deal could fall apart, the sources said.

A separate source familiar with the matter told TechCrunch that Facebook-backed Unacademy also held preliminary talks with Doubtnut but they are no longer engaging while some investors have suggested the startup to remain independent.

Byju’s and Unacademy declined to comment. One of Doubtnut’s founders

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