NIIT Technologies acquires Room Solutions

Has acquired

NIIT Technologies acquires Room Solutions a  UK Insurance Solutions Company

NIIT Technologies Ltd has announced that the Company has acquired a controlling interest in ROOM Solutions Ltd, a US$ 25 million, UK-based Insurance Solutions provider headquartered in London with about 120 professionals. The move will strengthen the Company' presence in the Insurance vertical. The Company will acquire the remaining equity in the Company over the next 18 months.

ROOM Solutions is focused on the commercial insurance market including IT solutions to the customers of Lloyd's, the largest reinsurance market in the UK.

Talking about this acquisition, Mr. Rajendra S Pawar, Chairman, of the Company said, "The strategic direction for the Company has been to sharply focus and scale its business in a few select industry segments such as Insurance. ROOM Solutions strengthens the Company' insurance capability by bringing in deep domain expertise in the Commercial Insurance space".

ROOM's extensive expertise in the commercial insurance space has enabled it to develop "Subscribe", part of a unique software suite that provides insurers with the functionality to sustain profitability throughout the insurance cycle. Over a quarter of Lloyd's business is processed on the core policy administration platform "Subscribe."

The Company has a strong presence in the Insurance industry and offers services to a wide range of customers globally. This acquisition of ROOM Solutions will strengthen its presence in the UK insurance market and add to the Company' insurance capabilities globally.

For further information please contact Robert Fergusson on +44 (0) 1753 800708 or James Calvert on +44 (0) 1753 800713.
 

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