NIIT Limited acquired RPS Consulting Pvt Ltd. from RPS promoters for INR 1.4 billion.
May 14, 2023
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NIIT Limited (BSE:500304) executed Share Purchase Agreement and other transaction documents to acquire RPS Consulting Pvt Ltd. from RPS promoters on October 1, 2021. NIIT acquired 70% stake in RPS Consulting for approximately INR 830 million on October 1, 2021. The remaining 30% 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. The acquisition is being undertaken in three tranches. Tranche-I is for acquisition of 70 per cent equity shareholding of the company on October 1, 2021. For the period ending September 30, 2021, RPS Consulting reported revenue of approximately INR 1.1 billion. The leadership team of RPS Consulting would continue to drive operations. The board of NIIT Limited approved the transaction. As on December 22, 2022, NIIT acquired additional 20% stake in RPS Consulting Pvt Ltd from RPS promoters for approximately INR 360 million. N. Raja Sujith of Majmudar & Partners acts as legal counsel to RPS Consulting. Grant Thornton Bharat acted as financial and tax advisors for RPS. Shardul Amarchand Mangaldas & Co. acted as legal advisors for NIIT.
NIIT Limited (BSE:500304) acquired RPS Consulting Pvt Ltd. from RPS promoters for INR 1.4 billion on May 15, 2023. NIIT acquired remaining 10% stake in RPS Consulting Pvt Ltd. from RPS promoters for approximately INR 190 million on May 15, 2023.
NIIT Limited is an India-based information technology services company. The Company is engaged in providing skills and talent development solutions to individuals, enterprises, and institutions. The Company provides a range of managed training services, which includes curriculum design and custom content development, learning delivery, learning administration, strategic sourcing, learning technology and advisory services. The Company provides specialized solutions, which include customer education, gamification, augmented reality and virtual reality, application rollouts, content curation and learner engagement and talent pipeline as a service. It offers content development, with capabilities that include gaming and simulation, two-dimensional (2D) and three-dimensional (3D) animation, and high-end video. Its content curation solution uses a process-driven approach with structured learning pathways designed to filter content to the learner in a phased manner.
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