NIIT has been recognized as the Best E-Learning Platform by the Associated Chambers of Commerce & Industry of India (ASSOCHAM). The award was given to NIIT Digital for its contribution to the technology training sector at the ASSOCHAM Futuristic Technologies & 7th Technology Excellence Awards ceremony in Kolkata.

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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. It had revenue of $20.76 million (unaudited) for financial year ended 31 December 2021.

The aggregate purchase price shall be an amount up to $65.086 million, comprising of fixed consideration of $23.428 million, subject to certain adjustments as per definitive agreements and maximum earnout amount of $41.658 million based on annual performance over the next four years.

Founded in 2002, by two former Arthur Andersen Partners, St. Charles Consulting Group has a network of over 500 premier management consultants in the fields of learning, organization development, knowledge services, and workforce planning. The company offers solutions in four key areas - strategic consulting, custom learning experiences, learning curation, and managed services.

The acquisition helps NIIT add significant presence in the professional services and management consulting sectors while strengthening NIIT's rapidly growing learning consulting practice. The transaction is in line with NIIT's 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 StC's business going forward and expects the transaction to be margin and EPS accretive from the first year.

NIIT is a leading global talent development corporation that builds skilled human capital and enables workforce talent worldwide.

In the second quarter ended 30 September 2022, NIIT recorded consolidated net revenue of Rs 392.2 crore, up 24% YoY and down 3% QoQ. EBITDA was Rs 56 crore (down 24% YoY and QoQ) and profit after tax was recorded at Rs 39.6 crore (down 25% YoY and down 11% QoQ).

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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 NIIT's rapidly growing learning consulting practice. The transaction is in line with NIIT's 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 StC's business going forward and expects the transaction to be margin and EPS accretive from the first year.

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Net profit of NIIT declined 24.55% to Rs 39.56 crore in the quarter ended September 2022 as against Rs 52.43 crore during the previous quarter ended September 2021. Sales rose 24.28% to Rs 392.22 crore in the quarter ended September 2022 as against Rs 315.59 crore during the previous quarter ended September 2021.

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