NIIT Technologies buys German firm Softec GmbH
India's leading software services firm, NIIT Technologies Ltd. announced, Thursday, it has inked a deal to buy out Germany's Softec GmbH.
Germany-based Softec focuses on providing IT solutions and services worldwide in the airline revenue accounting and operations space. They have a major market share of about 40 small to medium airlines within Europe, Africa and Asia.
"I am delighted that NIIT Technologies has chosen SofTec for its centre of excellence for airline systems," Peter Oncken, managing director, Softec, said.
"SofTec's industry specialization and access to the complete portfolio of NIIT Technologies' services will enhance value to our customer base," he added.
"The individual strengths of NIIT Technologies and SofTec are complementary. The acquisition will strengthen our domain leadership to reinforce our position in the travel, transportation and logistics space," said Arvind Thakur, CEO, NIIT Technologies.
The value of the deal was not disclosed.
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