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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
