Technology education services provider NIIT Ltd has acquired US-based Eagle International Institute, Inc. for $8.1 million (Rs 51.3 crore) in cash.
The deal value includes both upfront and deferred payments to be made over five years, NIIT said in a stock-exchange disclosure.
NIIT bought Eagle International, which operates under the name Eagle Productivity Solutions, through wholly owned unit NIIT USA Inc.
The acquisition will strengthen NIIT’s customer base in the pharmaceutical and life sciences industries and expand its training capability for global rollouts of cloud-based enterprise applications, the company said.
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.
Incorporated in 1988, Eagle provides technology training and work-process consulting services to clients. IT has offices in New York and at Malaga, Spain. Its consolidated revenue was $10.7 million in 2017.
Established in 1981, NIIT 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 1,187.7 crore and a net profit of Rs 65.1 crore for the year through March 2017.
*This article has been modified to update NIIT's financials.