Dimension Data buys 37.45% stake in Nihilent

MUMBAI: South Africa-based Nedcor Bank Ltd, the majority stakeholder in Pune based Nihilent Technologies has divested half of its 74.9 per cent stake in favor of Dimension Data Holdings, a global technology services company. Andre Meyer, General Manager, Technology and Operations, Nedcor Bank and board member, Nihilent Technologies said "This presents an excellent opportunity to multiply our strategic investment in Nihilent Technologies by integrating the global reach of Dimension Data with the delivery capability of Nihilent".

This move makes Dimension Data an equal stakeholder to Nedcor Bank with 37.45 percent each in Nihilent. The remaining 25.1% of the shares will continue to be owned by Nihilent employees. The strategic investment by Dimension Data in Nihilent Technologies is part of Dimension Data’s ongoing global business strategy of enhancing its capability to design, deliver and manage applications that run on corporate IT network infrastructures.

LC Singh, President and CEO of Nihilent Technologies commented, " The strategic partnership will give Dimension Data’s clients the option of choosing an offshore model for the development of value-add software solutions and IT services."

This arrangement will take place globally with the exception of South Africa. Nihilent Technologies’ background in software development and enterprise-wide application integration (EAI) will further strengthen Dimension Data’s position to fully support the convergence of application integration and network infrastructure, termed as "Application Networks".

Dimension Data will nominate three members to Nihilent Technologies’ board of directors to assist with future global strategy and growth. There will be no change in management of Nihilent Technologies at an operational level. Nihilent Technologies, which leverages information technology for business innovation to deliver sustained competitive advantage for its clients, offers services in the areas of Industry Transformation, Holistic Knowledge Management, Business Critical Services and Customer Relationship Management. Nihilent’s domain of expertise is currently in use in industries like Banking, Finance, Securities, Insurance, Logistics, Retail and Distribution and Government.