• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest
• The New Manager

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

New Delhi , July 27

NIIT Global has entered into a definitive agreement to acquire US-based Element K, a provider of learning solutions in North America. The transaction is expected to close within two weeks. The deal size is expected to be around $40 million.

The combined entity will have more than 3,000 employees, over $250 million in revenue and a presence in 32 countries.

"Element K's $80 million learning solutions business leverages its renowned technology Knowledge HubT, and an award-winning suite of more than 3,500 courses. Its learning solutions are enhanced through custom content development and strategic learning services, to address specific business challenges," said a press release.

Mr Vijay Thadani, CEO, NIIT, said, "This acquisition is consistent with our stated plans for accelerated growth in developed economies. Element K has an established base of highly satisfied clients in the United States and Canada, and a well respected brand in the training industry. They are moving successfully into the North American Learning BPO marketplace, and will benefit from NIIT's global presence and complementary learning services."

More Stories on : Software | Mergers & Acquisitions

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Rainfall deficit remains at 14 pc

Copyright © 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line