NIIT Technologies acquires German based SofTec GmbH
By siliconindia | Friday, 29 February 2008, 05:11 Hrs
Bangalore: NIIT Technologies, a global IT solutions organization, has announced that it has acquired German based SofTec GmbH, a provider of IT solutions and services in the airline revenue accounting and operations space. The acquisition will further strengthen NIIT Technologies' presence in the Travel, Transportation and Logistics vertical. The new company would be a wholly owned subsidiary of NIIT Technologies, India. Speaking on the occasion, Peter Oncken, Managing Director of Softec, said, "SofTec's financial and operation solutions have been implemented by more than 40 airlines mainly in Europe. SofTec's industry specialization and access to the complete portfolio of NIIT Technologies? services will enhance value to our customer base." "The individual strengths of NIIT Technologies and SofTec are complementary. The acquisition will strengthen our domain leadership to reinforce our position in the Travel, Transportation and Logistics space," said Arvind Thakur, Chief Executive Officer of NIIT Technologies. NIIT Technologies has a presence in the Travel, Transportation and Logistics domain through its association with the industry leaders like British Airways, Sabre, DB Systel, Emirates and SATS.