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NIIT Tech completes divestment of stake in Esri India Technologies

IT firm NIIT Technologies said Monday it has concluded the sale of its stake in ESRI India Technologies.

In April, NIIT Technologies had said it will sell its entire 88.99 per cent stake in Esri India Technologies Ltd to Environmental Systems Research Institute, Inc (Esri, Inc).

"...the company today concluded the sale of 88.99 per cent equity shares in ESRI India Technologies Ltd, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies Ltd, India shall cease to be subsidiary of the company with immediate effect," a regulatory filing said.

In its April notification, NIIT Tech had said the total consideration of the deal will be Rs 89.7 crore.