US-based Eagle International Institute, Inc. has been acquired by technology education services provider NIIT Ltd for $8.1 million (Rs 51.3 crore) in cash.
In a stock-exchange disclosure, NIIT said, the deal value includes both upfront and deferred payments to be made over five years.
NIIT bought Eagle International, which operates under the name Eagle Productivity Solutions, through wholly owned unit NIIT USA Inc.
With the help of this acquisition NIIT seeks to strengthen customer base in the pharmaceutical and life sciences industries and expand its training capability for global rollouts of cloud-based enterprise applications, said the company.
NIIT Chief Executive, Sapnesh Lalla, said that the life sciences domain and software application adoption expertise have been of keen interest to the company and that Eagle has a loyal and strong list of customers in the life sciences segment.
Commenced in 1988, Eagle provides technology training and work-process consulting services to clients. It has offices in New York and at Malaga, Spain and its consolidated revenue was $10.7 million in 2017.
NIIT, established in 1981, offers technology and computer training courses to individuals, enterprises and various institutions. It has three main lines of business – corporate learning group, skills and careers group, and school learning group.
The company posted consolidated revenue of Rs 1,200 crore and a net profit of Rs 4.85 crore in the year through March 2017.