NIIT acquires Spanish IT firm Proyecta

In a regulatory filing, NIIT said the acquisition would help enhance its European footprint as Proyecta was an established player in the region's travel and financial services segments.

"This coagulates NIIT Technologies front-end capabilities for larger European engagements and provides a gateway to the traditional Spanish-speaking countries in Latin America," said NIIT.

Europe, Middle East and Africa contribute 35 percent of NIIT's global revenue. The company, however, did not reveal the financial details of the transaction.

Proyecta S.A. is said to employ over 100 consultants and has deep domain capabilities and proven track record in the airlines and banking space in Spain. It also has a strong relationship with leading industry players in business intelligence, web and mobility applications.

"We welcome Proyecta to NIIT Technologies as we strengthen our Travel and Financial Services offerings in the region," said Sunil Surya, President, NIIT Technologies, Europe.

“Our comprehensive range of complementary services will strengthen our ability to serve our clients as a trusted IT partner," he added.