NIIT announced on 04 November 2022 that it has acquired 100% membership interest in St. Charles Consulting Group LLC (StC) through its wholly owned subsidiary, NIIT (USA), Inc. Headquartered in St. Charles, Illinois. StC is a leading provider of consulting, design, and implementation solutions for strategic learning programs to professional services firms and Fortune 500 companies. The acquisition was completed at a fixed consideration of USD 23.428 Million subject to certain adjustments as per definitive agreements. In addition, the definitive agreements provide for payment of annual performance based earnouts over the next four years. The acquisition helps NIIT add significant presence in the professional services and management consulting sectors while strengthening NIITs rapidly growing learning consulting practice. The transaction is in line with NIITs stated goal of accelerating growth through investments that add new capabilities to bring more value to its customers and strengthen presence in attractive customer segments. St. Charles deep experience in Strategic Learning Programs aimed towards advancing overall strategy, addressing strategic business priorities, and key initiatives at large organizations are in high demand across large, global organizations. NIIT believes there is a significant growth opportunity for StCs business going forward and expects the transaction to be margin and EPS accretive from the first year.Powered by Capital Market - Live News
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