Jump to content

NIIT

From Wikipedia, the free encyclopedia
For the federal income tax in the United States, see Affordable Care Act tax provisions § Net investment income tax. For the Estonian language surname, see Niit (surname).

NIIT Limited
Company typePublic
BSE: 500304
NSE: NIITLTD
IndustryHigher education
Founded1981; 44 years ago (1981)
FounderRajendra S. Pawar
Vijay K. Thadani
HeadquartersGurugram, India
Key people
Rajendra Singh Pawar (Chairman)
Vijay Kumar Thadani (Vice Chairman and MD)[1]
Pankaj Jathar (CEO)[2]
ServicesTraining and development
Vocational education
RevenueIncrease ₹368 crore (US$44 million) (2024)[3]
Increase ₹47 crore (US$5.6 million) (2024)[3]
Increase ₹39 crore (US$4.6 million) (2024)[3]
Total assetsIncrease ₹1,163 crore (US$140 million) (2024)[3]
Total equityIncrease ₹1,006 crore (US$120 million) (2024)[3]
Number of employees
907 (2024)[4]
Websiteniit.com
NIIT 40 Years Logo

NIIT Limited (National Institute of Information Technology) is an Indian multinational skills and talent development corporation headquartered in Gurgaon, India. 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

[edit]

NIIT was established in 1981 by Rajendra S. Pawar and Vijay K. Thadani, graduates from IIT[5] 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.[6]

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.[7]

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. [8]

Acquisitions

[edit]

In 2001, NIIT acquired Osprey Systems,[9] DEI and Click2learn in the US,[10] 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.[11]

On October 1, 2021 NIIT announced the acquisition of a 70% stake acquisition in RPS Consulting, a Bengaluru based training company.[12]

Financial controversy

[edit]

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.[13]

Timeline

[edit]
  • 1981: NIIT was established by Rajendra S. Pawar and Vijay K. Thadani to optimize on the opportunity of booming IT education and training in India.[14]
  • 1982: Setup educational centres in Mumbai and Chennai;[15] 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.[16]
  • 1993: Received ISO 9001 for software export;[17] 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.[18]
  • 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;[19] Collaborated with Sun Microsystems on "iForce initiatives on computing giant".[20]
  • 2001: Microsoft awarded NIIT the "Best Training Company Award".[21]
  • 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.[22]
  • 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).[23][24]
  • 2009: Founded and commenced new "NIIT University" campus in Neemrana, Rajasthan offering more post graduation level courses.[25]
  • 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.[26]
  • 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.[27]

Business units

[edit]

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

[edit]

References

[edit]
  1. ^ "Niit Ltd". Bloomberg. Bloomberg Business. Retrieved 8 July 2015.
  2. ^ "NIIT Ltd. Appoints Pankaj Jathar as Chief Executive Officer". NIIT. 1 July 2024. Retrieved 1 July 2024.
  3. ^ a b c d e "NIIT Ltd. Consolidated Profit & Loss account, Infosys Financial Statement & Accounts". moneycontrol.com. Retrieved 14 May 2021.
  4. ^ "NIIT Overview". 21 August 2024.
  5. ^ "NIIT pioneered IT education in India". The Economic Times. The Economic Times. 18 November 2011. Retrieved 10 September 2015.
  6. ^ "NIIT". Super Brands India. Retrieved 10 September 2015.
  7. ^ "Industry exalts Govt's Skill India Campaign". India Education Review. Retrieved 10 September 2015.
  8. ^ "NIIT Technologies is now Coforge". Coforge. Retrieved 15 September 2022.
  9. ^ "NIIT acquires Osprey for $3 m". Ciol. 31 March 2002.
  10. ^ "CNN.com - NIIT, Click2learn form alliance - January 23, 2002". CNN. Retrieved 29 April 2022.
  11. ^ "NIIT sells Element K to SkillSoft for $110 mn". Business Standard India. Press Trust of India. 17 October 2011. Retrieved 29 April 2022.
  12. ^ "NIIT acquires 70% stake in RPS Consulting for Rs 82.3 cr". The Economic Times. Retrieved 29 April 2022.
  13. ^ "Sebi bans imposes fine in NIIT Technologies insider trading case". Business Standard India. The Economic Times. 9 June 2022. Retrieved 15 June 2022.
  14. ^ "Academic Alliance". MMBL Cyber skills. 30 June 2009. Retrieved 16 October 2007.
  15. ^ "Schooling for the millions in emerging information economies is the challenge of Rajendra Pawar's renewed NIIT". Forbes. 30 June 2007. Retrieved 16 October 2007.
  16. ^ "NIIT Campus about most popular GNIIT program". 30 June 2008. Retrieved 16 October 2007.
  17. ^ "Received ISO". NIIT. 30 June 2008. Retrieved 16 October 2007.
  18. ^ "NIIT builds defence software for Singapore". Rediff on the net. 20 November 1997. Retrieved 16 October 2007.
  19. ^ "IT briefs: Oracle, NIIT forge alliance". The Hindu Business Line. 8 March 2000.
  20. ^ "NIIT teams up with Sun for iForce initiative". The Hindu Business Line. 16 June 2000. Retrieved 16 October 2007.
  21. ^ "Award for NIIT". The Hindu. 6 June 2001. Archived from the original on 9 November 2012. Retrieved 16 October 2007.
  22. ^ "Intel, NIIT to boost tech learning". Rediff News. 22 November 2004. Retrieved 16 October 2007.
  23. ^ "NIIT enters management education". The Economic Times. 16 September 2006. Retrieved 16 October 2007.
  24. ^ "NIIT ties up with Infospectrum for research solutions". Sify Business. 24 June 2008. Archived from the original on 29 October 2014. Retrieved 16 October 2007.
  25. ^ "NIIT University Campus, a breakthrough innovation". The Economic Times. 5 April 2009. Retrieved 16 October 2007.
  26. ^ "NIIT enters Test Preparation Market with CTET Coaching". PR Log. 30 October 2013. Retrieved 30 October 2013.
  27. ^ "NIIT completes demerger of company". Business Line. 25 May 2013. Retrieved 24 August 2023.
[edit]
Retrieved from "https://en.wikipedia.org/w/index.php?title=NIIT&oldid=1289586085"