NIIT Technologies announces its plans to acquire IT Consulting Firm –Whishworks

BFSI News

NIIT-Technologies-announces-its-plans-to-acquire-IT-Consulting-Firm-–Whishworks NIIT Technologies announces its plans to acquire IT Consulting Firm –WhishworksNIIT Technologies, an information technology service provider, as per recent reports this week, has announced its plans to acquire Whishworks, a global IT services provider and consulting company specialized at providing MuleSoft integration and Big Data solutions, in an internal accrual funded-all-cash transaction.

With this acquisition, NIIT plans to further expand on and strengthen its digital capabilities, complementing its digital offerings to build a unique and powerful solutions framework in the digital integration space.

Further specific terms of the said deal (which is subject to regulatory approvals) have not been disclosed. However, in its official announcement, NIIT quoted to acquire a 53% stake in Whishworks initially and purchase the remainder over the tenure of coming two years, with financial performance dependent compensation.

Speaking on this context, Sudhir Singh, CEO, NIIT Technologies, says, “Whishworks fits into our overall digital strategy, enhances our footprint in a high demand space, and is a significant addition to our existing capability spectrum in digital integration. This initiative is in line with our strategy to drive growth and create value over the long term by enhancing capabilities and domain depth, adding new partnerships, and making well-considered acquisitions that complement our existing strengths.”

Whishworks, founded in 2010, offering MuleSoft integration and big data solutions, has around 250 employees build around MuleSoft’s AnyPoint platform, with 350+ MuleSoft certifications held by its consultants.