NIIT subsidiary inks managed services agreement with US firm
CioreviewIndia team | Tuesday, 16 March 2021, 12:54 IST
NIIT (USA) Inc., USA, a wholly owned subsidiary of NIIT, has signed a managed services agreement with an existing client, US based financial services organization, to give a range of learning services.
The term of the agreement is five years. Both companies see this as a significant joint venture to alter the effectiveness and efficiency of regulatory and compliance learning within the financial services segment.
Moreover, NIIT's consolidated net profit jumped 53.3% to Rs 41.36 crore on a 3.9% increase in net sales to Rs 253.35 crore in Q3 FY21 over Q3 FY20.
Shares of NIIT dropped 0.70% to Rs 184.90 on BSE. NIIT is a skills and talent development corporation and its aim is to build a manpower pool for global industry requirements.
In a statement, NIIT states, "Both companies see this as a significant partnership where two market leaders jointly provide innovative solutions in the testing and certification marketplace.”
CIO Viewpoint
Harnessing the Power of AI and ML for Business...
By Vinod Subramanyam, Managing Director, Brillio
The Key to Achieving Real-time AI: Optimizing...
By Mukundha Madhavan, APAC Tech lead, Datastax
Smart Payment Solutions: The Role of AI and IoT...
By Manoj Varma, Head - Payments, Lyra Network, India
CXO Insights
AI and Sustainability Forge the Future of Tech...
By Ajeya Motaganahalli, VP - Engineering, and MD, Pure Storage India
Maximizing Customer Satisfaction with AI-Driven...
By Prashanth Kancherla, Chief Product Officer, Ozonetel
Optimizing Industry Decision-Making through...