NIIT Technologies acquires SofTec GmbH

RELATED NEWS NIIT Tech unveils multi-faceted 'SaaS offering NIIT Tech operating profit at Rs 44.4cr, up 4% QoQ NIIT Tech Q3 net profit at Rs 28.54 cr ALSO READ See latest News about NIIT Tech See previous management interviews See what other Experts & Brokerages are saying about NIIT Tech NIIT Tech BSE | NSE 10/02/12 Are Mutual Funds betting on NIIT Tech?

NIIT Technologies Limited, the global IT solutions organization, today announced that it has acquired German-based SofTec GmbH , a specialist in providing 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 Ltd, India.

 

'I am delighted that NIIT Technologies has chosen SofTec for its centre of excellence for airline systems', Mr. Peter Oncken, Managing Director of Softec said. 'SofTec's state-of-the-art financial and operations 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', Mr. Oncken further stated.

 

'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 Mr. Arvind Thakur, Chief Executive Officer of NIIT Technologies.

 

NIIT Technologies has a strong presence in the Travel, Transportation and Logistics domain through its association with the industry leaders like British Airways, Sabre, DB Systel, Emirates and SATS.

 

Sourced From: Brodeur India