ICICI Bank Picks Up 20% Stake in Indian Computer Training Firm NIIT (IBN)

NIIT has announced that ICICI Bank (IBN) has agreed to subscribe to the share capital of NIIT Institute of Finance, Banking and Insurance Training to the extent of Rs 9.50 million, or 19% of the paid-up capital (source: MyIris). NIIT is especially proficient when it comes to providing training in finance, banking and insurance.

With this deal, ICICI has made a strategic investment in a company which will serve the dual purpose of investment for gains in the future as well as helping fulfill its requirements for skilled employees. NIIT is a leader in India in terms of private computer training from basic to advance software training and its courses are recognized by industry leaders like Microsoft (MSFT) and Infosys (INFY). This new company will focus on areas of technology based learning services and proficiency assessment and recruitment testing services. With demand for skilled manpower growing daily, this company has a good future as companies generally try to outsource their recruitment work and are more comfortable hiring a trained employee then an untrained one.

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Source: ICICI Bank Picks Up 20% Stake in Indian Computer Training Firm NIIT (IBN)