NIIT

{{short description|Indian corporation}}

{{About||the federal income tax in the United States|Affordable Care Act tax provisions#Net investment income tax|the Estonian language surname|Niit (surname)}}

{{Use Indian English|date=June 2015}}

{{Use dmy dates|date=November 2020}}

{{Infobox company

| name = NIIT Limited

| logo = NIIT logo.svg

| type = Public

| traded_as = {{BSE|500304}}
{{NSE|NIITLTD}}

| founder = Rajendra S. Pawar
Vijay K. Thadani

| key_people = Rajendra Singh Pawar (Chairman)
Vijay Kumar Thadani (Vice Chairman and MD){{cite web|title=Niit Ltd|url=https://www.bloomberg.com/research/stocks/people/person.asp?personId=2447323&ticker=1514047|website=Bloomberg|publisher=Bloomberg Business|access-date=8 July 2015}}
Pankaj Jathar (CEO){{cite news|title=NIIT Ltd. Appoints Pankaj Jathar as Chief Executive Officer|url=https://www.niit.com/india/newsroom/niit-ltd-appoints-pankaj-jathar-chief-executive-officer|access-date=1 July 2024|publisher=NIIT|date=1 July 2024}}

| industry = Higher education

| services = Training and development
Vocational education

| revenue = {{Increase}} {{INRConvert|368|c}} (2024){{Cite web|title=NIIT Ltd. Consolidated Profit & Loss account, Infosys Financial Statement & Accounts|url=https://www.moneycontrol.com/india/stockpricequote/computers-software-training/niit/NII |access-date=14 May 2021|website=moneycontrol.com|language=en}}

| operating_income = {{Increase}} {{INRConvert|47|c}} (2024)

| net_income = {{Increase}} {{INRConvert|39|c}} (2024)

| assets = {{Increase}} {{INRConvert|1163|c}} (2024)

| equity = {{Increase}} {{INRConvert|1006|c}} (2024)

| num_employees = 907 (2024){{cite web|title=NIIT Overview|url=https://pitchbook.com/profiles/company/14633-74|date=21 August 2024}}

| foundation = {{Start date and age|1981}}

| location = Gurugram, India

| website = {{URL|niit.com}}

}}

File:NIIT_40_years_Logo.png

NIIT Limited is an Indian for-profit multinational corporation headquartered in Gurgaon, India, that provides training, development, and vocational education. The company was set up in 1981 to help the nascent IT industry overcome its human resource challenges. NIIT offers training and development to individuals, enterprises and institutions.

History

NIIT was established in 1981 by Rajendra S. Pawar and Vijay K. Thadani, graduates from IIT{{cite news|title=NIIT pioneered IT education in India|url=http://economictimes.indiatimes.com/opinion/india-emerging/niit-pioneered-it-education-in-india/articleshow/10775340.cms|access-date=10 September 2015|work=The Economic Times|agency=The Economic Times|date=18 November 2011}} Delhi, with one million rupees.

NIIT conceived a franchising model in IT education for the very first time, setting up nine centers by 1987.

The company earned the epithet, the 'McDonald's of the software business' by Far Eastern Economic Review in September, 2001.{{cite web |title=NIIT |url=http://www.superbrandsindia.com/images/brand_pdf/consumer_1st_edition_2004/niit/niit.htm |website=Super Brands India |access-date=10 September 2015}}

In 2014, NIIT tied up with National Skill Development Corporation to launch NIIT Yuva Jyoti centers, under the pilot phase of Prime Minister Narendra Modi's Skill India campaign and the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) in North East, J&K and Jharkhand.{{cite web|title=Industry exalts Govt's Skill India Campaign|url=http://www.indiaeducationreview.com/features/industry-exalts-govt%E2%80%99s-skill-india-campaign/19656|website=India Education Review|access-date=10 September 2015}}

In May 2019, Baring Private Equity Asia had acquired controlling stake of NIIT Ltd in NIIT Technologies Ltd.

In August 2020, NIIT Technologies Ltd. rebranded itself and began operating under the name Coforge Limited. {{cite web |title=NIIT Technologies is now Coforge |url=https://www.coforge.com/news-events/news/niit-technologies-now-coforge#:~:text=Noida%20%7C%20INDIA%2C%20August%2024%2C,designed%20company%20logo%20unveiled%20today. |website=Coforge |access-date=15 September 2022}}

=Acquisitions=

In 2001, NIIT acquired Osprey Systems,{{Cite web |date=March 31, 2002 |title=NIIT acquires Osprey for $3 m |url=https://www.ciol.com/niit-acquires-osprey-usd3/ |website=Ciol}} DEI and Click2learn in the US,{{Cite web |title=CNN.com - NIIT, Click2learn form alliance - January 23, 2002 |url=http://edition.cnn.com/2002/BUSINESS/asia/01/23/india.niit.biz/index.html |access-date=2022-04-29 |website=CNN}} to establish its e-learning and corporate learning practices in that country.

In 2006, NIIT acquired Element K, a provider of learning solutions in North America. Subsequently, Element K was sold off in 2012.{{Cite news |agency=Press Trust of India |date=2011-10-17 |title=NIIT sells Element K to SkillSoft for $110 mn |work=Business Standard India |url=https://www.business-standard.com/article/companies/niit-sells-element-k-to-skillsoft-for-110-mn-111101700090_1.html |access-date=2022-04-29}}

On October 1, 2021 NIIT announced the acquisition of a 70% stake acquisition in RPS Consulting, a Bengaluru based training company.{{Cite news |title=NIIT acquires 70% stake in RPS Consulting for Rs 82.3 cr |work=The Economic Times |url=https://economictimes.indiatimes.com/markets/stocks/news/niit-acquires-70-stake-in-rps-consulting-for-rs-82-3-cr/articleshow/86686985.cms |access-date=2022-04-29}}

=Financial controversy=

On June 9, 2022, the Securities and Exchange Board of India concluded an investigation regarding insider trading within NIIT Technologies. The investigation verified that insider trading had occurred, as a result of a corporate announcement made on behalf of NIIT on the floor of the National Stock Exchange of India on March 23, 2015.{{Cite news |agency=The Economic Times |date=2022-06-09 |title=Sebi bans imposes fine in NIIT Technologies insider trading case |work=Business Standard India |url=https://economictimes.indiatimes.com/markets/stocks/news/sebi-bans-person-from-capital-mkts-imposes-fine-in-niit-technologies-insider-trading-case/articleshow/92107874.cms |access-date=2022-06-15}}

Timeline

{{prose|date=April 2016}}

| url = http://cyberskills.lk/partnerships/academic-alliances#more-9

| title = Academic Alliance

| publisher = MMBL Cyber skills

| date = 30 June 2009

| access-date = 2007-10-16

}}

  • 1982: Setup educational centres in Mumbai and Chennai;{{cite magazine

| url = https://www.forbes.com/global/2007/1224/028.html

| title = Schooling for the millions in emerging information economies is the challenge of Rajendra Pawar's renewed NIIT

| magazine = Forbes

| date = 30 June 2007

| access-date = 2007-10-16

}} Introduced Multimedia technology in education.

  • 1983: Corporate training program introduced.
  • 1984: IT consultancy service started.
  • 1985: Head Office integrated at New Delhi.
  • 1986: Software product distribution started under "Insoft" brand.
  • 1987: Conceived Franchising Model of education.
  • 1990: Created the Computer drome to provide unlimited computer time to students.
  • 1991: First overseas office set up in US; "Bhavishya Jyoti Scholarships" launched for meritorious and socially challenged students.
  • 1992: GNIIT program started with professional practice.{{cite news

| url = http://www.niitatcampus.com/info/NIIT_Advantage.aspx

| title = NIIT Campus about most popular GNIIT program

| date = 30 June 2008

| access-date = 2007-10-16

}}

  • 1993: Received ISO 9001 for software export;{{cite news

| url = http://www.niit.com/SERVICES/SOLUTIONFORCORPORATES/TRAINING%20OUTSOURCING/Pages/Quality.aspx

| title = Received ISO

| publisher = NIIT

| date = 30 June 2008

| access-date = 2007-10-16

}} Listed on BSE.

  • 1995: NIIT tied up with Microsoft to provide education of Microsoft technologies.
  • 1996: First overseas education center launched; Launched "NetVarsity", the virtual University; Awarded ISO 9001 for Computer Education.
  • 1997: NIIT was the first Indian Company to be assessed at SEI CMM Level 5 for Software Business; Unique distinction puts NIIT into first list of 21st Global companies.{{cite news

| url = http://www.rediff.com/computer/nov/20singap.htm

| title = NIIT builds defence software for Singapore

| publisher = Rediff on the net

| date = 20 November 1997

| access-date = 2007-10-16

}}

  • 1999: Achieved the status of Microsoft's best training partner in Asia; Five time World Champion Viswanathan Anand became NIIT Brand Ambassador; Started Hole-in-the-Wall (HiWEl) experiment for disadvantaged children.
  • 2000: Tied up with Oracle Corporation to provide education on Oracle technologies specially on Oracle Database;{{cite news

| url = http://www.thehindubusinessline.com/2000/03/08/stories/150839i2.htm

| title = IT briefs: Oracle, NIIT forge alliance

| newspaper = The Hindu Business Line

| date = 8 March 2000

}} Collaborated with Sun Microsystems on "iForce initiatives on computing giant".{{cite news

| url = http://www.hindu.com/businessline/2000/06/16/stories/1416395s.htm

| title = NIIT teams up with Sun for iForce initiative

| newspaper = The Hindu Business Line

| date = 16 June 2000

| access-date = 2007-10-16

}}

  • 2001: Microsoft awarded NIIT the "Best Training Company Award".{{cite news

| url = http://www.hindu.com/2001/06/06/stories/0606000d.htm

| archive-url = https://web.archive.org/web/20121109051332/http://www.hindu.com/2001/06/06/stories/0606000d.htm

| url-status = dead

| archive-date = 9 November 2012

| title = Award for NIIT

| newspaper = The Hindu

| date = 6 June 2001

| access-date = 2007-10-16

}}

  • 2003: Launched NIIT MindChampions Academy with Viswanathan Anand to promote chess in schools.
  • 2004: Global Solutions Business spun off into NIIT Technologies; Industry endorsed GNIIT curriculum was launches; NIIT and Intel signed a deal to use technology-assisted learning in school.{{cite news

| url = http://in.rediff.com/money/2004/nov/22intel.htm

| title = Intel, NIIT to boost tech learning

| publisher = Rediff News

| date = 22 November 2004

| access-date = 2007-10-16

}}

  • 2005: Launch of NIIT IT Aptitude Test (NITAT).
  • 2006: Launched new businesses called NIIT Litmus which provides testing & assessment services for IT&ITES organizations, NIIT Imperia which would provide three certificate programs from Indian Institutes of Management and IFBI - Institute of Finance Banking and Insurance (NIIT IFBI).{{cite news

| url = http://economictimes.indiatimes.com/News/News_By_Company/N_Companies_/NIIT/NIIT_enters_management_education/articleshow/1984895.cms

| title = NIIT enters management education

| newspaper = The Economic Times

| date = 16 September 2006

| access-date = 2007-10-16

}}{{cite news

| url=http://sify.com/finance/fullstory.php?id=14701578

| archive-url=https://web.archive.org/web/20141029161925/http://www.sify.com/finance/fullstory.php?id=14701578

| url-status=dead

| archive-date=29 October 2014

| title = NIIT ties up with Infospectrum for research solutions

| website = Sify Business

| date = 24 June 2008

| access-date = 2007-10-16

}}

  • 2009: Founded and commenced new "NIIT University" campus in Neemrana, Rajasthan offering more post graduation level courses.{{cite news

| url = http://economictimes.indiatimes.com/Features/The-Sunday-ET/NIIT-University-Campus-a-breakthrough-innnovation-/articleshow/4360261.cms

| title = NIIT University Campus, a breakthrough innovation

| newspaper = The Economic Times

| date = 5 April 2009

| access-date = 2007-10-16

}}

  • 2011: Launch of NIIT Yuva Jyoti Limited (NYJL)- a joint venture between NIIT and NSDC to fuel growth in Skills & Employability for youth across India.
  • 2012: Launch of Digital Marketing Program; NIIT received 'Top IT Training Company Award 2012' for the 20th year in succession by Cybermedia publications.
  • 2013: NIIT, NIIT University entered into a MoU with Autodesk to evangelize design as a learning discipline in India; NIIT launched 'Program in Business Analytics'; NIIT launches NIIT Cloud Campus: A pioneering initiative undertaken to help take high quality educational programs to the remotest corners of the country; NIIT enters Test Preparation Market with CTET Coaching.{{cite news

| url = http://www.prlog.org/12233969-niit-litmus-to-conduct-the-ctet-advantage-program.html

| title = NIIT enters Test Preparation Market with CTET Coaching

| publisher = PR Log

| date = 30 October 2013

| access-date = 2013-10-30

}}

  • 2014: NIIT launches its new persona based website www.niit.com.
  • 2015: Internet and Mobile Association of India (IAMAI) recognizes NIIT as the "Best Educational Website"; NIIT enters into MoU with Guian New Area, China.
  • 2016: Launch of Training.com to offer online training.
  • 2017: Sapnesh Lalla takes charge as the CEO of NIIT Ltd.
  • In May 2019, Baring Private Equity Asia had acquired controlling stake of NIIT Ltd in NIIT Technologies Ltd.
  • 2023: The group completed the demerger of its business, with corporate learning transferred to NIIT Learning System's, and skills & careers business retained with the parent company.{{cite news | url = https://www.thehindubusinessline.com/info-tech/niit-completes-demerger-of-company/article66892596.ece | title = NIIT completes demerger of company | publisher = Business Line | date = 25 May 2013 | access-date = 2023-08-24}}

Business units

NIIT has two main lines of business across the globe – Corporate Learning Group and Skills & Careers Business.

NIIT's Corporate Learning Group (CLG) offers Managed Training Services (MTS) to market-leading companies in North America, Europe, Asia, and Oceania. The Skills & Careers Business (SNC) delivers a diverse range of learning and talent development programs to millions of individual and corporate learners in areas including Digital Transformation, Banking, Finance & Insurance, Retail Sales Enablement, Digital Media Marketing, and new-age IT. NIIT has incubated, StackRoute, as a digital transformation partner for corporates to build multi-skilled full stack developers at scale.

See also

References

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