New Delhi, Jan 4 (PTI) Skills and talent development firmNIIT Ltd today said it has acquired Eagle InternationalInstitute (EII) for USD 8.1 million.
The acquisition will help NIIT expand its trainingcapability for global rollout of cloud-based enterpriseapplications in the pharmaceutical and life sciences industry,NIIT said in a statement.
"The total consideration payable for the acquisition(comprising equity, goodwill and assumption of debtobligation) is USD 8.1 million... The deal -- in cash --includes upfront and deferred payments over five years," NIITsaid in a BSE filing.
Eagle was incorporated in 1988 and is engaged in thebusiness of providing technology training and work processconsulting.
EII -- which operates as Eagle Productivity Solutions --is headquartered in Rochester, US. Its consolidated turnover(provisional) for the financial year ended December 2017 stoodat USD 10.7 million.
"Under the NIIT umbrella, Eagle will continue to exist asan individual practice ... Eagle also intends to honour allcontracts and commitments to all existing customers with nointerruption in service," NIIT said.
Bob Cannan, majority shareholder and CEO of Eagle, saidhe sees the deal as a major opportunity to support theexplosive growth of cloud software.
"The Life Sciences domain and Software ApplicationAdoption expertise have been of keen interest to NIIT ... Thecoming together of EagleÂ’s expertise and penetration in theLife Sciences space creates great opportunity for NIIT in boththe Life Sciences and the Software Application domains," NIITCEO Sapnesh Lalla said. PTI SRMR.
This is unedited, unformatted feed from the Press Trust of India wire.