NIIT Technologies announced a global partnership with enterprise blockchain software firm R3 to develop innovative solutions for Banking and Financial Services, Insurance and Travel and Transportation verticals on R3's Corda, an open-source blockchain platform.

As a part of the partnership, both the organizations will jointly develop solutions that combine the domain expertise of NIIT Technologies and leverage R3's Corda platform and pursue customer opportunities.

Sudhir Singh, CEO, NIIT Technologies stated, "Our partnership with R3 is yet another milestone in strengthening our capabilities in the emerging technologies space. Through these solutions, our customers will be able to realize the full potential of blockchain and drive transformation in their businesses - executing complex logic to exchange of assets directly, simply and in strict privacy, without the need for costly reconciliation".

Shares of the company gained Rs 4.65, or 0.41%, to trade at Rs 1,152.40. The total volume of shares traded was 3,765 at the BSE (9.32 a.m., Friday).