Bangalore, Aug 28: After doubling of revenue since it separated in 2004, Software solutions major NIIT, is now scouting newer markets and adopting non-linear business model of building capabilities in insurance, travel and transport.
According to CEO Arvind Thakur, NIIT, which had a revenue of nearly Rs 1000 crore last year, entered the next phase of transformation by adding the IT services-line, doing acquisitions and building platforms to offer product-based services. Speaking to reporters here on Wednesday, Aug 28 he said, ''More significantly, we are doing 'on demand service' to delink our revenue from headcount. We have been offering Software as a Service (SaaS) that can prove to be cost-effective and also improve our profitability.'' He said acquisitions had been the pillar of the company's strategy to add stability to the organisation and strengthen its domain. It had acquired a Germany-based airline IT solution provider and another UK-based company.
''More acquisitions will happen, but I can't say when...Most of it is however exploratory,'' he said.
Mr Thakur said IT education would continue to be strengthened and that NIIT was sharply focussing on a few industrial segments. ''We want to strengthen the content by bringing people from the IT industry as consultants,'' he said.
We are expanding our footprint in EMEA (Europe, Middle East and Asia) and had opened operations in Dubai recently. ''This is to get a foothold in Middle East where all the petro Dollars is being invested and a significant growth is seen,''he said.
He said sub-prime crisis in the US affected all, including NIIT.
The company witnessed a bit of slowdown last year, but it should 'bottom out' in the second half of this fiscal.