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NIIT Technologies to acquire WHISHWORKS; sell 89% stake in Esri India

This transaction is expected to add to margin and earnings of NIIT Tech

BS Reporter 

NIIT Technologies

has said it will sell its entire 88.99 per cent in India Technologies and buy Hyderabad-based IT Consulting, an IT services and consulting company specialising in MuleSoft and Big Data techn­ologies. is a US-based geographic information system-based company, which makes mapping and location-based software products. NIIT Tech had a distribution deal with the firm, which was expiring on March 31. will now directly manage the distribution of its products in India. The transaction is expec­ted to close within this month.

ALSO READ: Baring Private Equity Asia to pick 30% stake in NIIT Tech for Rs 2,627 cr

In WHISHWORKS, which is an all-cash transaction, funded through internal accruals, NIIT Tech will initially buy a 53 per cent stake, with the remaining equity to be acquired over the next two years through pay-outs linked to financial performance.

This transaction is expected to add to margin and earnings of NIIT Tech. The deal closure is subject to government and regulatory approvals.

First Published: Mon, April 08 2019. 00:38 IST
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