.story-content span,.story-content p,.story-content div{color:#000!important;font-family:‘open sans‘,Arial!important;font-size:15px!important} span.p-content div[id^=”div-gpt”]{line-height:0;font-size:0}

has said it will sell its entire 88.99 per cent in Technologies and buy Hyderabad-based IT Consulting, an IT services and consulting company specialising in MuleSoft and Big Data techn­ologies. is a US-based geographic information system-based company, which makes mapping and location-based software products. NIIT Tech had a distribution deal with the firm, which was expiring on March 31. will now directly manage the distribution of its products in India. The transaction is expec­ted to close within this month.

ALSO READ:

In WHISHWORKS, which is an all-cash transaction, funded through internal accruals, NIIT Tech will initially buy a 53 per cent stake, with the remaining equity to be acquired over the next two years through pay-outs linked to financial performance.

This transaction is expected to add to margin and earnings of NIIT Tech. The deal closure is subject to government and regulatory approvals.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.