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NIIT Acquires 70% Stake In RPS Consulting For Rs 82.3 Crore
This acquisition will also help NIIT expand its Managed Training Services portfolio to include technology training as a Managed Service for its global customers
Photo Credit : constructive.net.au
Skills and talent development company NIIT Ltd on Friday said it has acquired a 70 percent stake in RPS Consulting Pvt Ltd for Rs 82.3 crore. The remaining 30 percent shareholding will be acquired by NIIT from the promoters of RPS Consulting in subsequent tranches based on the achievement of certain financial milestones and closing adjustments in terms of the transaction documents within the next two and a half years, a regulatory filing said.
"The acquisition is being undertaken in three tranches. Tranche-I is for the acquisition of 70 percent equity shareholding of the company on October 1, 2021. The consideration for Tranche I is Rs 823.10 million (Rs 82.32 crore), subject to certain closing adjustments as per the transaction documents," it added. Pursuant to the transaction, RPS Consulting has become a subsidiary of NIIT. The leadership team of RPS Consulting would continue to drive operations, it said.
Bengaluru-based RPS Consulting is a provider of training programs on emerging digital technologies for experienced technology professionals, specifically addressing the needs of Global Systems Integrators and Capability Centers of large multinational companies. Its trailing 12 months revenue for the period ending September 30, 2021, is estimated at approximately Rs 105.7 crore, with a year-on-year growth of 32 percent.
RPS Consulting offers advanced technology training to experienced technology professionals of over 260 companies across key IT hubs in India, including Bengaluru, NCR, Hyderabad, Chennai, Pune and Mumbai, the filing said. It also offers a comprehensive programme catalogue with over 2000 courses on emerging technologies from 23 global technology partners (including Microsoft, Red Hat, VMware, Citrix, Dell EMC, Google and AWS among others), it added.
The company also offers a digital platform that enables real-world, hands-on virtual labs on a multitude of emerging technologies, supported by an extensive pool of over 700 certified mentors. "This acquisition creates new opportunities for NIIT and RPS Consulting to deliver innovative learning solutions in emerging digital technologies including Software Architecting and Engineering, Data Science, Cloud, Automation and DevOps, for both working professionals and new hires," the filing said.
This acquisition will also help NIIT expand its Managed Training Services portfolio to include technology training as a Managed Service for its global customers, it added. NIIT Vice-Chairman and MD Vijay Thadani said RPS' technical expertise will expand NIIT's capability to accelerate the digital transformation journeys of large enterprises.
"This acquisition enhances NIIT's strengths and capabilities to offer emerging technology programmes for experienced technology professionals, in addition to NIIT's new hire, deep skilling and digital transformation programs”, NIIT CEO and Executive Director Sapnesh Lalla said.