NIIT zooms on acquiring St. Charles Consulting Group
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NIIT is currently trading at Rs. 321.90, up by 28.25 points or 9.62% from its previous closing of Rs. 293.65 on the BSE.
The scrip opened at Rs. 294.20 and has touched a high and low of Rs. 327.25 and Rs. 294.20 respectively. So far 65085 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 658.55 on 13-Apr-2022 and a 52 week low of Rs. 271.00 on 28-Oct-2022.
Last one week high and low of the scrip stood at Rs. 327.25 and Rs. 275.00 respectively. The current market cap of the company is Rs. 4277.91 crore.
The promoters holding in the company stood at 34.88%, while Institutions and Non-Institutions held 33.10% and 32.01% respectively.
NIIT has acquired 100% membership interest in St. Charles Consulting Group LLC (StC) through its wholly owned subsidiary, NIIT (USA), Inc. Headquartered in St. Charles, Illinois, StC is a leading provider of consulting, design, and implementation solutions for strategic learning programs to professional services firms and Fortune 500 companies. The acquisition was completed at a fixed consideration of $23.428 Million subject to certain adjustments as per definitive agreements. In addition, the definitive agreements provide for payment of annual performance based earnouts over the next four years.
The acquisition helps NIIT add significant presence in the professional services and management consulting sectors while strengthening NIIT’s rapidly growing learning consulting practice. The transaction is in line with NIIT’s stated goal of accelerating growth through investments that add new capabilities to bring more value to its customers and strengthen presence in attractive customer segments.
NIIT is a leading Skills and Talent Development Corporation that is building a manpower pool for global industry requirements.
