NIIT exploring local acquisition in aviation sector

New Delhi: The senior management of NIIT Technologies told Business Standard that the company was seriously exploring a local acquisition in the aviation sector and another in the US financial and transportation sectors.
Arvind Thakur, chief executive officer, NIIT Technologies, said, “The company will be eager to expand inorganically this year.” The company reported 95 per cent increase in its net profit to Rs 129.2 crore for FY 2006-07.
Thakur said that growth in the domestic market would be faster in 2007. “At present, nearly 8 per cent of our revenues come from our Indian operations, and to increase this number, we will be looking at a relevant business outfit that provides services for the aviation sector,” he said.
The company is already present in the manufacturing, retail and banking & financial verticals in the country. It plans to increase its India contribution to double digits with the inclusion of aviation sector, that can mean airline (transportation), loyalty solutions and cargo solutions, amongst others.
“The acquisitions will have to be focused on closing gaps in the front-end. Our acquisition strategy is driven by domain knowledge, in certain cases country-specific domain expertise within a specified vertical,” Rajendra Pawar, Chairman, NIIT Technologies, said.
25/05/07 Priyanka Joshi/Business Standard

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Categories: General Aviation May 2007, New May 2007