The acquisition will help the travel services provider to expand its portfolio of service related businesses by making a foray into “one of the world’s largest human resource markets”
Thomas Cook India (TCIL), one of country’s largest integrated travel services company has signed an agreement to acquire 74% stake in IKYA Human Capital Solutions Pvt Ltd, a human relations (HR) staffing solutions company, for Rs256 crore (approximately $47 million).
“IKYA offers specialised HR services including search, recruitment, project-based hiring and skill development to more than 500 corporate clients in India,” TCIL said in a statement to the exchanges. The acquisition will help the travel services major to expand its portfolio of service related businesses by making a foray into “one of the world’s largest human resource markets”.
Post-acquisition IKYA would remain a standalone independently run entity supervised by TCIL, which would remain focused on the growth of the travel related businesses.
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