NIIT Tech acquires Sabre Philippines Development Centre
Second acquisition by the company in last 12 months in travel space
IT service provider NIIT Technologies today said it has signed an agreement to acquire Sabre Holdings’ Philippines Development Centre for an undisclosed amount. Sabre, a global technology company, is provider of solutions for the travel industry and a key customer of NIIT Technologies.
Post the acquisition, NIIT Tech will provide services to Sabre and its other customers from this Manila center, which has a capacity of 200 seats with an opportunity for expansion.
Arvind Thakur, Chief Executive Officer, NIIT Technologies said “The acquisition fits well with our strategy of ‘Focus and Differentiate’ and enhances our global delivery footprint.”
This is the second acquisition by the company in the travel space in last 12 months. In August 2011, the company had acquired Spanish software services firm Proyecta for $7 million to get expertise in the travel and finance domain.
At present, the travel and transport vertical contributes for 40 per cent of the overall revenues of NIIT Technologies. NIIT Tech had registered a 42.8 per cent growth in its revenues at Rs 469.6 crore, in the April-June quarter of 2012 from Rs 328.8 crore in the same period in 2011.
Shares of NIIT Tech were trading at Rs 285.05, up 0.48 per cent at the Bombay stock exchange (BSE).