Niit limited, Management training company

NIIT Limited, a global skills & talent development company and leading provider of managed training services, has acquired 70 percent stake in RPS Consulting Private Limited (RPS Consulting).The board of NIIT Limited approved this transaction during the board meeting held on October 1, 2021. The remaining 30 percent shareholding will be acquired by NIIT from the promoters of RPS Consulting in subsequent tranches based on achievement of certain financial milestones and closing adjustments in terms of the transaction documents within the next two and a half years.RPS Consulting is a leading 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 Cr, with a year over year growth of 32 percent.Bengaluru-based 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 MumbaiComprehensive program catalog with over 2000 courses on emerging technologies from 23 global technology partners (including Microsoft, Red Hat, VMware, Citrix, Dell EMC, Google, AWS and ISC2 among others)Specialized training solutions on emerging digital technologies such as Artificial Intelligence /Machine Learning, Data Science, DevOps, Automation, and Cybersecurity.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.This acquisition will also help NIIT expand its Managed Training Services portfolio to include technology training as a Managed Service for its global customers. Pursuant to the transaction, RPS Consulting has become a subsidiary of NIIT. The leadership team of RPS Consulting would continue to drive operations.Speaking on the announcement, Vijay Thadani, Vice Chairman & MD, NIIT Ltd. said, "We are excited to have RPS Consulting join the NIIT family. Their technical expertise will expand NIIT's capability to accelerate digital transformation journeys of large enterprises."Speaking on the synergies of the relationship, Sapnesh Lalla, CEO and Executive Director, NIIT Ltd. said, "This acquisition enhances NIIT's strengths and capabilities to offer emerging technology programs for experienced technology professionals, in addition to NIIT's new hire, deep skilling and digital transformation programs."Commenting on the development, Prasad Balakrishnan, CEO and Executive Director, RPS Consulting Pvt. Ltd. said "Both NIIT and RPS Consulting are leading names in the technology training industry. We are confident that this acquisition will result in creating significant value for our customers, partners and stakeholders."Shardul Amarchand Mangaldas & Co acted as legal advisors for NIIT. Grant Thornton Bharat acted as financial and tax advisors and Majmudar & Partners acted as legal advisors for RPS Consulting.This story is provided by BusinessWire India.will not be responsible in any way for the content of this article. (ANI/BusinessWire India)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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