NIIT USA Inks Managed Services Agreement with US Edtech Firm

NIIT USA, a wholly owned subsidiary of NIIT has announced that its US-based subsidiary has signed a managed services agreement with one of its existing client in the US. This is has been initiated to offer a wide range of learning services.

The tenure of the agreement is stretched to five years and both the organization considers this as a significant partnership as it is expected to transform the effectiveness and efficiency of the regulatory and compliance learning within the financial services sector.

Also, NIIT's consolidated net profit raised 53.3 percent and reached Rs.41.36 crore on a 3.9 percent increase in net sales to Rs.253.35 crore in Q3 FY21 over Q3 FY20. However, the shares of NIIT dropped 0.70 percent to Rs.184.90 on BSE. NIIT is a skills and talent development corporation that is building 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.”

The demand for online courses has witnessed a quantum jump across the globe especially after the outbreak of COVID-19 resulted lockdowns and a growing trend of social distancing. Skills and talent development leader NIIT has announced that its US subsidiary has signed a managed services agreement with a US-based education technology firm to offer virtual services to education providers. NIIT has a footprint in more than 30 countries that offers training and development solutions to individuals, enterprises and institutions.