NIIT Tech to acquire WHISHWORKS in all-cash deal
IT solutions firm NIIT Technologies Ltd. has signed an agreement to acquire Hyderabad-based WHISHWORKS IT Consulting.
"We are delighted to welcome the WHISHWORKS team, clients, and partners into our fold," Sudhir Singh, CEO, NIIT Technologies, said in a statement on Saturday.
NIIT Technologies would initially acquire 53 per cent stake in the company and the remaining equity over the next two years through pay-outs linked to financial performance. It will be an all-cash transaction, funded through internal accruals.
"WHISHWORKS fits into our overall digital strategy, enhances our footprint in a high demand space and is a significant addition to our existing capability spectrum," Singh said.
Incorporated in 2010, WHISHWORKS has around 250 employees. WHISHWORKS works with an ecosystem of global innovators, including MuleSoft, Salesforce, MapR and Cloudera. Over the years, it has invested in building unique capabilities around MuleSoft's Anypoint Platform, a leading platform for building application networks.