Incessant Technologies transfers 51% stake to NIIT

Incessant says partnership will help it build new capabilities and tap new geographies like Europe and North America

As a part of the strategic agreement entered into with NIIT Technologies Limited, Hyderabad-based Incessant Technologies, a business process management, IT consulting, and vertical-specific solutions provider, has transferred 51 per cent of its stake to the former.

NIIT, had in March 2015, announced its intent to acquire 51 per cent stake in Incessant Technologies for $17 million (close to 107 crore).

Under the strategic agreement, Incessant Technologies will provide NIIT with the capability to be a significant player in the digital integration space with digital legacy integration, digitisation and automation of business processes for seamless customer experience.

In a press release on Monday, Incessant said the partnership would enable it to build new capabilities, invest in R&D, expand in new geographies like North America and Europe, and enter into new verticals such as travel and transportation.

Incessant Technologies recorded revenues of $13.9 million (approximately Rs 88 crore) last year, and is estimated to report revenues of $17 million this year, the release added.