NIIT Technologies Limited
 | |
| Public company | |
| Traded as | |
| ISIN | 🆔 |
| Industry | IT services, IT consulting |
| Founded 📆 | 2004 |
| Founder 👔 | |
| Headquarters 🏙️ | , , |
Area served 🗺️ | Americas, Europe, Asia, and Australia |
Key people | Sudhir Singh (CEO) |
| Services | IT, business consulting and outsourcing services |
| Revenue🤑 | INR 36,762 Mn ($532.78 Mn) (FY19)[1] |
| Members | |
Number of employees | 10,263 (FY19) |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
NIIT Technologies Limited is an IT company with over 10,000 employees serving clients across Americas, Europe, Asia, and Australia. The company sharply focuses on key industries: Banking and Financial Services, Insurance, and Travel, Transportation and Hospitality. Established in 2004.[2]
Sudhir Singh is the Chief Executive Officer at NIIT Technologies currently based in Princeton, New Jersey. Sudhir joined NIIT Technologies in May 2017.[3][4][5][6][7]
History
NIIT Technologies Limited is a spinoff from NIIT Ltd. The year 2002 marked a significant milestone for NIIT's software arm as it surpassed the revenue figures of NIIT Ltd. As a result of a restructuring exercise initiated in 2003, NIIT Technologies demerged from NIIT Ltd. in the year 2004 and became an independent entity. In 2019, Baring Private Equity Asia acquired 30% shares of NIIT Technologies from NIIT Ltd. and other promoters.
Acquisitions
- BPEA acquired 30% stake in NIIT Technologies[8][9]
- Divested stake in Esri India to Esri Inc[10]
- Incessant Technologies acquires 55% stake in RuleTek.[11]
- Incessant Technologies, niche BPM firm based out of Hyderabad, India [12]
- Sabre Holdings’ Philippines Development Center in 2012[13]
- Proyecta Sistemas in 2011[14]
- UK-based company ROOM Solution in 2007.[15]
- Germany based company Softech[16]
- In April 2019 NIIT Technologies acquired Whishworks with 53% stake.[17][18]
Businesses
NIIT Technologies’ business is centered around Travel, Transportation and Hospitality, Banking & Financial services and Insurance. The company also offers Application Development& Maintenance, Cyber Security, Digital Process Transformation, Business Process Services and Infrastructure Management services.
References
- ↑ Et Bureau (6 May 2019). "NIIT Technologies net profit rises 22.5% to Rs 105.5 crore". Economic Times. Retrieved 25 Aug 2019.
- ↑ Swati Moorthy (7 May 2019). "NIIT Tech delivers stellar FY19 results as transformation strategy pays off". Money Control. Retrieved 25 Aug 2019.
- ↑ "Sudhir Singh". Market Screener. 1 June 2017. Retrieved 11 July 2019.
- ↑ Swati Moorthy (3 September 2018). "NIIT Technologies to focus on three key verticals, geographies:CEO". The Hindu Business Line. Retrieved 11 July 2019.
- ↑ Anirban Ghoshal (8 April 2019). "Why mid tier Indian IT companies are becoming take over targets". Tech Circle. Retrieved 11 July 2019.
- ↑ Surabhi Agrawal (27 Aug 2018). "NIIT Tech orders up with new strategy: CEO". Economic Times. Retrieved 11 July 2019.
- ↑ online bureau. "Sudhir Singh". tapchief. Retrieved 11 July 2019.
- ↑ "Baring Private Equity Asia acquires 30.50 per cent stake in NIIT Technologies". The Hindu Business Line. 2019-05-18.
- ↑ "Baring PE's plan to buy 30% stake in NIIT Tech gets nod from anti-trust authorities in US, Germany". Livemint. 2019-05-10. Retrieved 25 August 2019.
- ↑ India, Press Trust of (2019-05-13). "NIIT Tech completes divestment of stake in Esri India Technologies". Business Standard India. Retrieved 2019-07-04.
- ↑ "NIIT Tech unit Incessant to buy 55% stake in US-based RuleTek". VCCircle. 2017-05-31. Retrieved 2019-01-09.
- ↑ "NIIT Technologies to acquire 51% stake in Incessant". Hindustan Times, New Delhi, 25 May 2015. 5 May 2015.
- ↑ "NIIT Technologies acquires Sabre's Philippines Development Center". The Economic Times, 11 Sep 2012. Archived from the original on 2 February 2014. Retrieved 25 March 2020.
- ↑ "NIIT Tech acquires Spanish firm". Hindustan Times, New Delhi, 16 August 2011. 13 July 2011.
- ↑ "NIIT Technologies acquires majority stake in Room Solutions". Mobile Security Zone, 10 May 2006.
- ↑ "Reuters". Archived from the original on 9 July 2012. Retrieved 25 March 2020.
- ↑ "NIIT Technologies to acquire WHISHWORKS, a MuleSoft® and Big Data specialist". NIIT Technologies.
- ↑ Reporter, B. S. (8 April 2019). "NIIT Technologies to acquire WHISHWORKS; sell 89% stake in Esri India". Business Standard India.
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