The Telegraph
Since 1st March, 1999
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NIIT completes third buyout this year

New Delhi, Sept. 4: NIIT Ltd today acquired US-based Data Executives International (DEI), its third acquisition this year. No deal amount has been mentioned for DEI which specialises in providing business solutions to leading companies in the insurance and finance sectors.

NIIT expects to leverage the strengths of DEI in the $ 75-billion IT services market for the finance and insurance sectors, with capabilities ranging from high-end strategic consulting services to IT solutions.

“NIIT Technologies has invested steadily in building its insurance and finance services. This acquisition is another key step in bringing high-end domain expertise to the practice as well as in providing access to the leading players in the Insurance domain,” said Vijay Thadani, chief executive officer of NIIT.

The acquisition adds to NIIT a high calibre management team and an experienced consulting team of over 15 professionals. DEI will become a division of NIIT in the US with Charles T. Schaefer as its president and Bruce Torok as vice-president.

“I am tremendously excited about the opportunity to combine DEI’s domain expertise and strong customer access with NIIT’s global resources, reach and scalability. The combination will enable us to provide our clients with a better range of services and enhance our ability to help them reduce the cost of doing business,” Schaefer said.

“DEI is a well respected name in the insurance and securities space with clients such as AIG, ING, Jefferson Pilot, Mass Mutual, Schinnerer, Lutheran Brotherhood, AON, AMEX and GEFA. It has been closely supporting the technology initiatives of these firms for several years, providing domain-specific solutions,” C. N. Madhusudan, president of strategic alliances at NIIT said.

Recently, NIIT re-branded its global software business as ‘NIIT Technologies’.

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