NIIT to acquire US-based learning services co. St. Charles Consulting in $65-M deal

Gurgaon-based. Publicly listed NIIT Ltd is to acquire a 100% stake in St. Charles, Illinois (USA)-based learning services firm St. Charles Consulting Group (StC) for an aggregate purchase price of up to USD 65.086 million, comprising a fixed payout of USD 23.428 million and an earnout of USD 41.658 million (based on performance over the next four years). StC had reported a revenue of USD 20.76 million (unaudited) for the financial year ended December 2021, compared to USD 13.22 million in the previous fiscal. VectorSpan and AGG acted as the financial and legal advisor respectively in this transaction. St. Charles Consulting Group is a provider of consulting, design, and implementation solutions for strategic learning programmes to professional services firms and Fortune 500 companies. It has a network of over 500 premier management consultants in the fields of learning, organization development, knowledge services, and workforce planning.