Hi soccerinvestor My understanding (and keep in mind I'm still learning myself) is that if one acquires the other you may get bought out or be offered shares in the other company. The share price may go up or down depending on what price one is paying for the other. I think this is unlikely as OLL is still fairly early stages. As for investing in both that's a perfectly reasonable strategy and one people use. It's advocated for in the investing book The Gorilla Game with the addition that once it becomes clear who the winner is going to be, in this case in the Ed Tech sector, you'd sell out the other positions and move them into the dominant one.