NIIT to acquire US learning solutions company Element K
27 July 2006
Mumbai: NIIT Global has entered into a definitive agreement to acquire Element K, a leading provider of learning solutions in North America. The transaction is expected to close within two weeks, NIIT said in a statement.
With over 3,000 employees, $250 million in revenues and presence in 32 countries, the NIIT-Element K combine expects to emerge as the leading global provider of comprehensive learning solutions.
Element K''s $80 million learning solutions business leverages its renowned technology Knowledge Hub and an award-winning suite of more than 3,500 courses. It provides customised learning solutions for specific business challenges through its strategic learning services.
"This acquisition is consistent with our stated plans for accelerated growth in developed economies", said Vijay Thadani, CEO, NIIT. "Element K has an established base of highly satisfied clients in the United States and Canada, and a well respected brand in the training industry. They are moving successfully into the North American learning BPO market place, and will benefit from NIIT''s global presence and complementary learning services" he added.
Element K delivers a tailored combination of technology and services supporting the learning needs of the corporate, government, education and training centre markets. It is also equipped to build new learning solutions using its 2,300 catalogue e-learning courses, a learning platform, 1,300 print courseware titles, custom content, systems integration and services. The company conducts self-paced and instructor-facilitated online courses, vLab hands-on labs, instructor-led courseware, comprehensive e-reference libraries, technical journals, and `KnowledgeHub'', a hosted learning management platform.
NIIT, an acknowledged leader in the IT and IT-assisted training space, offers learning and knowledge solutions in over 30 countries. NIIT''s range of offerings in the e-learning domain is bolstered by its SEI CMM Level 5 assessed corporate solutions business which has emerged as a leader in the field. The corporate business offers integrated learning solutions that range from strategy and design to development, implementation and administration.