NIIT Tech buys Room Solutions for $25M
By agencies   |   Monday, 08 May 2006, 19:30 IST
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NEW DELHI: New Delhi based Mid-tier IT services company NIIT Technologies Ltd., has bought U.K. based Room Solutions Ltd in a bid to increase its client base in the insurance sector. NIIT has acquired a 51 percent stake in Room, and the company will be a wholly owned unit by the end of 2007. The cost of acquisition would be about $25 million, NIIT Tech's Chief Executive Arvind Thakur said on Monday. NIIT Technologies is a part of the NIIT Group, which is one of the largest computer education companies in the world.

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