NIIT forges equity alliance with U.S. firm

NEW DELHI, FEB. 22. The software major NIIT today said it has formed a strategic equity participation with U.S.-based Relativity Technologies to popularise 'e-transformation' of software that has a global market of $30 billion. By forging the alliance, NIIT has set up an e-transformation competence centre in Calcutta to offer web-enablement services to various organisations in India and invested a few crores of rupees, a top company official said.

``NIIT has set up a software facility in Calcutta to handle e- transformation business for global clients," the President of the software business, NIIT, Mr. Arvind Thakur, told Pti.

The company would generate $7 million this year from the e- transformtion business and the revenue from this sector would be going up in the coming years, he said. However, Thakur declined to disclose the quantum of equity picked up by NIIT in the relativity technologies.

- PTI

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Section  : Business
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