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Business News/ Companies / NIIT Technologies to acquire 51% stake in Incessant
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NIIT Technologies to acquire 51% stake in Incessant

The deal is said to be worth almost Rs250 crore

Shares of NIIT Technologies rose 12.2% to Rs401.80 on BSE. Photo: Pradeep Gaur/MintPremium
Shares of NIIT Technologies rose 12.2% to Rs401.80 on BSE. Photo: Pradeep Gaur/Mint

NIIT Technologies Ltd said it has agreed to acquire a 51% stake in Incessant Technologies for an undisclosed sum.

However, a person aware of the development said that the deal is worth almost 250 crore.

Incessant helps clients automate and integrate back-end systems with a digital front end, and the firm currently has more than 300 consultants who are certified practitioners, the firm said, adding that Incessant has strong relationships with more than 20 clients, and strong alliance partnerships with leading platform providers such as Pegasystems Inc. and Appian Corp.

“Incessant provides us with the capability to be a significant player in digital integration with digitization and automation of business processes for a seamless customer experience", said Sudhir Chaturvedi, chief operating officer, NIIT Technologies.

Edelweiss was the sole financial adviser to Incessant Technologies.

Incessant reported a revenue of $13.9 million in FY14, and is estimated to report a revenue of $17 million for FY15. “The entity is expected to be margin- and EPS-accretive in FY16 for NIIT Technologies," the firm said.

Shares of NIIT Technologies rose 12.2% to 401.80 on BSE Ltd, while the benchmark Sensex shed 0.18% to 27,440.14 points.

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Swaraj Singh Dhanjal
" Based in Mumbai, Swaraj Singh Dhanjal is responsible for Mint’s corporate news coverage. For the past eight years he has been writing on the biggest deals in private equity, venture capital, IPO market and corporate mergers and acquisitions. An engineer and an MBA, he started his journalism career in 2014 with Mint. "
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Published: 05 May 2015, 08:54 PM IST
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