NIIT Learning Systems Limited has announced the completion of its acquisition of SweetRush Inc., a strategic move that significantly expands the company's presence in the Americas market. The acquisition represents a major step in NIIT's growth strategy, combining SweetRush's award-winning learning design capabilities with NIIT's global managed learning services platform.

Acquisition Details

The transaction involves the complete acquisition of SweetRush Inc., executed through NIIT MTS' wholly owned subsidiary, NIIT (USA), Inc. The financial structure and key parameters of the deal are outlined below:

About SweetRush Inc.

SweetRush, founded in 2001 by Arturo Schwartzberg and Andrei Hedstrom, has established itself as a leader in AI-enabled custom learning experience design. The San Francisco-headquartered company brings significant operational capabilities and market presence to the NIIT portfolio.

Strategic Benefits and Growth Opportunities

The acquisition supports NIIT MTS' growth strategy through multiple strategic advantages. The combination creates an expanded services portfolio that includes strategic learning interventions, certification solutions, and talent solutions, positioning the company to drive wallet share expansion across enterprise, association, and not-for-profit client segments.

A key opportunity lies in converting project-based relationships into longer-duration, annuity-like managed learning engagements by extending NIIT's broader Managed Learning Services platform to SweetRush's existing client base. This transformation potential represents a significant revenue optimization opportunity for the combined entity.

Leadership Perspectives

Sapnesh Lalla, Chief Executive Officer and Executive Director of NIIT MTS, emphasized the strategic value of the combination: "SweetRush has built a trusted position with discerning clients for whom performance outcomes truly matter. This strategic combination adds award-winning strategic learning interventions and talent solutions to NIIT's Managed Learning Services platform."

Danielle Hart, Chief Executive Officer of SweetRush, highlighted the cultural alignment: "SweetRush's culture and craft have always been rooted in care, innovation, and business transformation. Joining NIIT gives us a larger platform to serve clients globally while staying true to what makes SweetRush distinctive."

Service Capabilities and Market Position

SweetRush's comprehensive service portfolio includes strategy consulting and analysis, strategic training interventions, bespoke learning solutions, high-performance talent solutions, certification development, and innovative learning technologies including VR, AR, and AI. The company has earned multiple awards and accolades across learning strategy, leadership, virtual training, blended learning, and innovation categories.

NIIT MTS operates as a trusted L&D and talent partner for leading companies in over 30 countries, with established metrics including a Net Promoter Score of 9/10 and a 100% renewal rate. The combination creates a comprehensive platform that merges human-centered learning craft with global operational scale, powered by technology and AI capabilities.

NIIT Learning Systems Limited has successfully completed the acquisition of 100% equity stake in SweetRush Inc., a prominent US-based provider of strategic training interventions and custom learning solutions. The transaction was approved by the company's Board of Directors on January 9, 2026, and executed through its wholly owned overseas subsidiary NIIT (USA) Inc.

Acquisition Details and Financial Terms

The strategic acquisition involves a comprehensive purchase agreement with significant financial commitments and performance-based components.

The aggregate purchase price includes earnout amounts payable over the next five years, subject to the performance of SweetRush and customary adjustments as per the terms of definitive agreements.

About SweetRush Inc.

SweetRush Inc., founded in 2001 and headquartered in San Francisco, USA, operates as a leader in the corporate learning and development industry. The company specializes in strategic training interventions and high-end custom learning solutions for Fortune 1000 enterprises and professional associations. SweetRush also maintains a wholly owned subsidiary, Sociedad de Responsabilidad Limitada, in Costa Rica.

Financial Performance Overview

SweetRush has demonstrated consistent revenue performance over the past three years:

*Estimated figures

Strategic Rationale and Business Synergies

The acquisition forms part of NIIT Learning Systems' stated strategy to drive growth through strategic investments aimed at building new capabilities, geographic expansion, and penetrating attractive customer segments. The transaction brings together SweetRush's custom, AI-enabled, human-centered learning experience design with NIIT's global managed learning scale.

SweetRush is recognized for award-winning strategic learning interventions and custom learning solutions, including certification-oriented content and a growing talent solutions capability. NIIT brings a comprehensive, AI-enabled Managed Learning Services platform serving Global 1000 enterprises, enabling clients to optimize learning investments with measurable outcomes.

Key Strategic Benefits

The acquisition supports NIIT's growth strategy through several key areas:

• Expanded Services Portfolio: Strategic learning interventions, certification solutions, and talent solutions positioned to drive wallet share expansion across enterprise, association, and not-for-profit client segments
• Revenue Model Enhancement: Opportunity to convert project-based relationships into longer-duration, annuity-like managed learning engagements by extending NIIT's broader Managed Learning Services platform to SweetRush's client base

Regulatory and Compliance Aspects

The acquisition does not require any governmental or regulatory approvals, streamlining the completion process. The transaction does not fall within related party transactions, and no promoter, promoter group, or group companies have any interest in the acquired entity. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015.