NIIT subsidiary inks managed services agreement with US firm

CioreviewIndia team | Tuesday, 16 March 2021, 12:54 IST

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NIITNIIT (USA) Inc., USA, a wholly owned subsidiary of NIIT, has signed a managed services agreement with an existing client, US based financial services organization, to give a range of learning services.

The term of the agreement is five years. Both companies see this as a significant joint venture to alter the effectiveness and efficiency of regulatory and compliance learning within the financial services segment.

Moreover, NIIT's consolidated net profit jumped 53.3% to Rs 41.36 crore on a 3.9% increase in net sales to Rs 253.35 crore in Q3 FY21 over Q3 FY20.

Shares of NIIT dropped 0.70% to Rs 184.90 on BSE. NIIT is a skills and talent development corporation and its aim is to build a manpower pool for global industry requirements.

In a statement, NIIT states, "Both companies see this as a significant partnership where two market leaders jointly provide innovative solutions in the testing and certification marketplace.”

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