NIIT Technologies is reportedly in talks with private equity majors Carlyle and TPG (Texas Pacific Group) for selling a majority stake in the company. A financial daily reports that a strategic investor is also believed to be interested in the deal.
At present, the promoters' stake in NIIT Technologies is around 40%, and the newspaper report says that the company may sell anywhere between 25% and 40% to the potential suitor(s). This would trigger an open offer for an additional 20% in the company.
NIIT Technologies services customers in North America, Europe, Asia and Australia and focuses on verticals such as banking, financial services, insurance, travel, retail and manufacturing. The company employs over 4,500 people and has four development centers in India and one each in the US, the UK and Singapore.
Source: India Infoline