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NIIT acquires US-based Data Executives International
By siliconindia
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Thursday, 05 September 2002, 19:30 IST
ATLANTA: NIIT, a global IT solutions provider, Wednesday announced its third acquisition of the year by taking over Data Executives International (DEI), a privately held company with its headquarters in Pennsylvania.
"NIIT Technologies has invested steadily in building its insurance and finance services practice. This acquisition is another key step in bringing high-end domain expertise to the practice as well as in providing access to the who's who in the insurance domain, said Vijay Thadani, CEO of NIIT.
The acquisition has given NIIT a big push in the $75-billion IT services market for the finance and insurance sectors with capabilities ranging from high-end strategic consulting services to complete IT solutions.
DEI will become a division of NIIT in the United States with Charles T. Schaefer as its president and Bruce Torok as its vice president.
"Charlie, a Rutgers graduate, is a seasoned financial services industry executive with over 16 years of experience at EDS. He is also a chartered financial consultant, a chartered property casualty underwriter, and a chartered life underwriter. Bruce co-founded DEI in 1984 after several years at EDS and Philadelphia Life Insurance", Arvind Thakur, president, NIIT Technologies.