Skills and talent development corporation NIIT has acquired a 70 per cent stake in iamneo, a deep skilling technology training solutions provider, for a consideration of ₹61.3 crore.
“The consideration includes a primary investment of approximately ₹10 crore,” NIIT stated in a regulatory filing on the Bombay Stock Exchange (BSE) on Thursday.
Under the agreement, NIIT will acquire the remaining 30 per cent shareholding in phases from iamneo’s promoters in subsequent tranches over the next five years — from financial year (FY) 2025-26 to FY 2029-30.
Headquartered in Coimbatore, iamneo provides a scalable AI-powered deep skilling software-as-a-service (SaaS) platform to undergraduates in universities and early career professionals in global system integrators (GSIs) and global capability centres (GCCs).
Commenting on the transaction, Pankaj Jathar, chief executive officer, NIIT, said that the partnership would help enrich NIIT’s offering portfolio, particularly benefiting undergraduates and strengthening its onboarding bootcamp initiatives for GSIs and GCCs.
TP Senthil, founder of iamneo, added that the platform has successfully positioned itself as a trusted and agile learning partner for progressive universities, GSIs and GCCs.
“We are confident this strategic partnership with NIIT will generate significant value for our customers,” he added.
Post-acquisition, iamneo will function as a subsidiary of NIIT, with the former’s founding leadership team continuing in their existing roles to ensure continuity of operations.
“iamneo’s innovative solutions significantly enhance our capability to deliver impactful digital transformation curricula at scale,” Vijay Thadani, vice-chairman and managing director, NIIT, added.
On Thursday, NIIT’s shares went up by 2.75 per cent, ending the day’s trade at ₹130.55 on the BSE.
