NIIT mulls overseas acquisition
Facebook Twitter google+ RSS Feed

NIIT mulls overseas acquisition

By agencies   |   Friday, 17 February 2006, 08:00 Hrs
Printer Print Email Email
MUMBAI: NIIT Technologies today said it was considering an overseas acquisition, which could cost the company anything between $15-20 million.

“Yes. We are looking at an acquisition... in the insurance, travel and transport and retail space. We are in discussion with many and zeroed some options in the US and the UK," NIIT (Technology) CEO Arvind Thakur said.

The acquisition could be funded through external resources or through internal accruals depending on the timing of the acquisition, he added.

The company is also planning to spend around $22.7 million to set up a campus in Noida near New Delhi.

"The campus would have a seating capacity of 3000 in the first phase. Later, the capacity would be increased to 10,000," he said.

The first phase would be completed in 18 months by mid 2007 and the entire project would be funded through internal accruals.

Experts on SiliconIndia
Santhosh  K
Sr. Soft. Engg.
Oracle India
Nehal Vyas
Sr. Team Lead
Cyberoam Tech.
Rani Malli
Sr. Director
Sr. Executive
Vijay Balkrishna Konduskar
Business Consultant
Imans Web Tech
Dr L P  Sharma
Technical Director
Reena Khanna
Dellas  Asse
sys-network admin
Computer Station
Write your comment now
Submit Reset