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NIIT Technologies is planning to invest more in Incessant Technologies, to buy it out completely in phases. The firm had invested about $20 million a few months ago, to pick 51 per cent in the digital transformation solutions company.
“We would like to invest more over a period of time to buy more stake,” Sudhir Chaturvedi, Chief Operating Officer of NIIT Technologies, said.
He, however, has not indicated any timeline to buy more stake in the company.
Addressing a press conference here on Thursday, he said the company saw a huge potential in digital services. “This segment contributes about 17 per cent to our revenues with 2,000 employees working for it. This is far more than the industry average,” he said.
The London-based executive of NIIT Technologies was here as the company opened a Digital Innovation Centre in Hyderabad at Incessant’s facility, with about 500 employees.
He said the centre would help clients to connect the legacy data with the digital front ends, helping them to react to the customer demands much faster.
“We are planning to double the number in two years, with Hyderabad having about 400 employees and 100 more in the US. We are going to expanding to the US market,” Vijay Madduri, Chief Executive Officer of Incessant Technologies, said.
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