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NIIT Technologies Limited

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NIIT Technologies Limited
Public company
Traded as
ISIN🆔
IndustryIT services, IT consulting
Founded 📆2004
Founder 👔
Headquarters 🏙️, ,
Area served 🗺️
Americas, Europe, Asia, and Australia
Key people
Sudhir Singh (CEO)
ServicesIT, business consulting and outsourcing services
Revenue🤑 INR 36,762 Mn ($532.78 Mn) (FY19)[1]
Members
Number of employees
10,263 (FY19)
🌐 Websitewww.niit-tech.com
📇 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 focus 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[edit]

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[edit]

  • 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[edit]

NIIT Technologies’ business is centered around Travel, Transportation and Hospitality, Banking & Financial services and Insurance. The company also offer Application Development& Maintenance, Cyber Security, Digital Process Transformation, Business Process Services and Infrastructure Management services.

References[edit]

  1. Et Bureau (6 May 2019). "NIIT TEchnologies net profit rises 22.5% to Rs 105.5 crore". Economic Times. Retrieved 25 Aug 2019.
  2. Swati Moorthy (7 May 2019). "NIIT Tech delivers stellar FY19 results as transformation strategy pays off". Money Control. Retrieved 25 Aug 2019.
  3. "Sudhir Singh". Market Screener. 1 June 2017. Retrieved 11 July 2019.
  4. Swati Moorthy (3 September 2018). "NIIT Technologies to focus on three key verticals, geographies:CEO". The Hindu Business Line. Retrieved 11 July 2019.
  5. Anirban Ghoshal (8 April 2019). "Why mid tier Indian IT companie are becoming take over targets". Tech Circle. Retrieved 11 July 2019.
  6. Surabhi Agrawal (27 Aug 2018). "NIIT Tech orders up with new strategy: CEO". Economic Times. Retrieved 11 July 2019.
  7. online bureau. "Sudhir Singh". tapchief. Retrieved 11 July 2019.
  8. "Baring Private Equity Asia acquires 30.50 per cent stake in NIIT Technologies". The Hindu Business Line. 2019-05-18.
  9. "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.
  10. India, Press Trust of (2019-05-13). "NIIT Tech completes divestment of stake in Esri India Technologies". Business Standard India. Retrieved 2019-07-04.
  11. "NIIT Tech unit Incessant to buy 55% stake in US-based RuleTek". VCCircle. 2017-05-31. Retrieved 2019-01-09.
  12. "NIIT Technologies to acquire 51% stake in Incessant". Hindustan Times, New Delhi, 25 May 2015. 5 May 2015.
  13. "NIIT Technologies acquires Sabre's Philippines Development Center". The Economic Times, 11 Sep 2012.
  14. "NIIT Tech acquires Spanish firm". Hindustan Times, New Delhi, 16 August 2011. 13 July 2011.
  15. "NIIT Technologies acquires majority stake in Room Solutions". Mobile Security Zone, 10 May 2006.
  16. "Reuters".
  17. "NIIT Technologies to acquire WHISHWORKS, a MuleSoft® and Big Data specialist". NIIT Technologies.
  18. Reporter, B. S. (8 April 2019). "NIIT Technologies to acquire WHISHWORKS; sell 89% stake in Esri India". Business Standard India.


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