WHITE PAPER

NIIT Tech in pact with Morris Communications

by VARINDIA 2011-07-13

NIIT Technologies has signed a USD 85 million partnership agreement with Georgia-based media company Morris Communications to jointly offer IT and BPO services in North America. NIIT Technologies will have a controlling interest in the joint venture and both companies will jointly invest USD 85 million in the new venture over a period of five years. Under the terms of the agreement, Morris will transfer its key assets - including IT infrastructure, people and applications landscape - to the joint venture.

"This is a strategic transformational deal which enhances our onshore presence, to expand its footprint in the US market," NIIT Technologies President, Lalit Dhingra said.

NIIT Technologies offers IT solutions to organisations across North America, Europe, Asia and Australia. Morris' holdings include 13 daily newspapers, numerous non-daily and free community papers, 33 radio stations and two radio networks, two book publishing and distribution houses, numerous magazines and specialised publications, over 100 visitor (travel and tourism) publications, an online service and two event marketing companies.