Moneycontrol PRO
HomeNewsBusinessCompaniesNIIT Tech signs $85m JV pact with Morris Communications

NIIT Tech signs $85m JV pact with Morris Communications

Indian IT company NIIT Technologies today signed a USD 85 million partnership agreement with Georgia-based media company Morris Communications to jointly offer IT and BPO services in North America.

July 13, 2011 / 16:45 IST
     
     
    26 Aug, 2025 12:21
    Volume
    Todays L/H
    More

    Indian IT company NIIT Technologies today signed a USD 85 million partnership agreement with Georgia-based media company Morris Communications to jointly offer IT and BPO services in North America.


    NIIT Technologies will have a controlling interest in the joint venture and both companies will jointly invest USD 85 million in the new venture over a period of five years.


    "This is a strategic transformational deal which enhances our onshore presence, to expand its footprint in the US market," NIIT Technologies President Lalit Dhingra said.


    Under the terms of the agreement, Morris will transfer its key assets -- including IT infrastructure, people and applications landscape -- to the joint venture.


    "This partnership will significantly reduce our costs of operations and services, while improving the level of services required to meeting our objectives in the future," Steve K Stone, Senior Vice-President and Chief Financial Officer of Newspapers and Shared Services at Morris Communications, said.


    NIIT Technologies offers IT solutions to organisations across North America, Europe, Asia and Australia.


    Morris' holdings include 13 daily newspapers, numerous non-daily and free community papers, 33 radio stations and two radio networks, two book publishing and distribution houses, numerous magazines and specialised publications, over 100 visitor (travel and tourism) publications, an online service and two event marketing companies.

    first published: Jul 13, 2011 04:40 pm

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347