Niit


ATLANTA, October 14, 2011 - - Sells its stake in Element K, Enters into Strategic Partnership with SkillSoft NIIT a leading global talent development corporation and Asia's largest IT Training company addressing global markets in the corporate, retail and schools segments announced today that it has divested its stake in its step down subsidiary, Element K Corporation, based in Rochester, NY, USA, by selling the Element K business to SkillSoft Corporation and SkillSoft Ireland Limited (the "Buyers"), indirect subsidiaries of SSI Investments II Limited ("SSI II") which is the parent company of SkillSoft Limited (formerly SkillSoft PLC) ("SkillSoft"), for consideration of $110M in cash, subject to closing adjustments.
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