NIIT Technologies to acquire Germany's Softec

Mumbai, Feb 28 (UNI) NIIT Technologies has signed a share purchase agreement for acquisition of 100 per cent share capital of Softec GmbH, Germany.

NIIT Technologies Ltd has informed BSE that the Company has signed such a share purchase agreement with shareholders of Softec GmbH.

Softec GmbH focuses on providing IT solutions and services worldwide in the airline revenue accounting and operations space. They have a major market share with 40 small to medium airlines within Europe, Africa and Asia.

The acquisition will further strengthen NIIT Technologies' presence in the Travel, Transportation and Logistics vertical. The new Company would be a wholly-owned subsidiary of NIIT Technologies, India, a press release here said.

NIIT CEO Arvind Thakur said, ''The individual strengths of NIIT Technologies and SofTec are complementary. The acquisition will strengthen our domain leadership to reinforce our position in the Travel, Transportation and Logistics space.'' UNI AR MAZ SM1331