NIIT Limited, a global skills & talent development company and leading provider of managed training services has acquired 70% 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% 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, the company said in its statement.
RPS Consulting provides 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.
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, the statement said.
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.
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