NIIT to acquire US-based IT firm

The new entity will have 3K employees, over $250 million in revenue and will have branches in 32 countries.

Leading Indian IT company NIIT Global is all set to acquire Element K, a US-based learning solution provider.

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Element K delivers learning solutions, technology and services, supporting the learning needs of the corporate, government, education and training centre markets in North America and Canada.

"This acquisition is consistent with our stated plans for accelerated growth in developed economies," a press release quoted NIIT CEO Vijay Thadani as saying.

The entire process of acquisition is expected to be completed in two weeks and together the new entity will emerge as a leading global provider of comprehensive learning solutions, with more than 3,000 employees, over $250 million in revenue and presence in 32 countries, the release stated.