India’s leading skill and talent development company acquires a US-based talent development firm
Post the pandemic, education and skill development have gained a lot of attention.
On 4 November 2022 NIIT Limited stated in the disclosure filed, that they have acquired a US-based St Charles Consulting Group (STC). Last year NIIT acquired RPS Consulting which posted double-digit growth on year on year basis. NIIT believes, that there is a significant growth opportunity left for STC and expects the transaction to be margin and EPS accretive from the first year.
St Charles Consulting is known for its deep expertise and experience in building strategic learning programs which are in high demand. It is aimed towards advancing overall strategy, addressing strategic business priorities, and key initiatives at large organizations that are in high demand across large, global institutions.
On 28 October 2022, while earning call the, Managing Director and Vice Chairman of NIIT Limited said “We are committed to the deployment of the cash in the balance sheet for further investments in profitable growth and new capabilities on the back of the investment that we made in a company called KNOLSKAPE in the last quarter”.
NIIT has two business verticals, Corporate Learning Group (CLG) offers Managed Training Services (MTS) to market-leading companies in North America, Europe, Asia, and Oceania. And the Skills & Careers Business (SNC) delivers a diverse range of learning and talent development programs to millions of individual and corporate learners in areas including Digital Transformation, Banking, Finance & Insurance, Soft Skills, Business Process Excellence, Retail Sales Enablement, Management Education, Multi-Sectoral Vocational Skills, Digital Media Marketing, and new-age IT. NIIT has incubated, StackRoute, as a digital transformation partner for corporates to build multi-skilled full-stack developers at scale.
NIIT closed today at Rs 331.6, which is 12.92% higher than the previous closing. It has a 52-week high of Rs 658.55 and a 52-low of Rs 271. The PE of NIIT is currently at 36.58 with a face value of Rs 2 per share.
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