Baring Private Equity, a private equity firm, acquired a 30% stake in NIIT Technologies, a leading global IT solutions organization, for $381m. Rajendra Pawar, Chairman, NIIT Technologies, said: "NIIT Technologies Limited which became an independently listed company after demerger from NIIT Limited in 2004, has grown into one of the most innovative and trusted IT Services Company in India. The long-standing relationships with marquee customers, many spanning over two decades, are a consequence of a sharp focus on identified verticals including, travel, banking and insurance and distinctive capabilities developed. The involvement of Baring Private Equity Asia will provide further impetus to the management team led by CEO, Sudhir Singh to take the company to the next level of growth."