NIIT Acquires Majority Stake in iamneo for Rs 61.3 Cr

Mumbai, Apr 17 (PTI) Skills and talent development corporation NIIT on Thursday said it has acquired 70 per cent stake in deep skilling technology training solutions provider iamneo for around Rs 61.3 crore.

In a regulatory filing, NIIT said it has acquired 70 per cent equity shareholding in iamneo for a total consideration of up to Rs 61.3 crore, subject to certain closing adjustments.

"The consideration includes primary investment of approximately Rs 10 crore," the filing added.

NIIT will acquire the remaining 30 per cent shareholding in phases from iamneo's promoters, subject to achievement of agreed financial milestones, it added.

Post-acquisition, iamneo will function as a subsidiary of NIIT, with iamneo's founding leadership team continuing in their existing roles, ensuring seamless continuity of operations.

"iamneo's innovative solutions significantly enhance our capability to deliver impactful digital transformation curricula at scale," NIIT Vice Chairman and Managing Director Vijay Thadani added.

Shares of the company on Thursday closed at Rs 130.55, up 2.75 per cent on NSE.