Thomas Cook to acquire 74% stake in Ikya Human Capital Solutions for Rs 256 cr
- IPL spot-fixing case: Net widens, police watching 3 more players, other bookies
- IPL 2013: Imperious Brad Hodge powers Rajasthan Royals to qualifier
- Sonia Gandhi, PM Manmohan Singh slam BJP for disrupting Parliament, stalling bills
- IPL spot-fixing: 'Bookie' Vindoo was close to BCCI chief's son-in-law, say cops
- Jessica Lall case: Shayan Munshi to face perjury trial
Travel services firm Thomas Cook (India) today said it has inked a pact to acquire 74 per cent stake in Ikya Human Capital Solutions in a deal valued at Rs 256 crore.
The company has signed an 'investment pact' to acquire 74 per cent stake in human resources and staffing firm Ikya Human Capital Solutions for consideration of Rs 256 crore, Thomas Cook India (India) said in a filing to the BSE.
"...Ikya's wide range of HR services and sterling reputation, offer us a wonderful opportunity to extend the bouquet of travel, financial and HR services we offer to
corporates across India," Thomas Cook (India) Managing Director Madhavan Menon said.
He added that after the acquisition, Ikya would remain a standalone, independently managed entity supervised by Thomas Cook (India).
Ikya, which offers specialised human resources services including search, recruitment and project based hiring, caters to over 500 corporate entities in the country.
Ikya CEO Ajit Issac said the company was born with a vision to be the leading player in human resources across the emerging global markets.
"This strategic partnership with Thomas Cook (India) and in turn their promoters at Fairfax Financial offers Ikya a platform to enable us to realise this vision sooner," he
Thomas cook India said the transaction remains subject to customary closing conditions and regulatory approvals.
Shares of Thomas Cook (India) were trading at Rs 55.30 apiece on the BSE in late afternoon trade, up 2.69 per cent from its previous close.
- Fixing probe now reaches Bollywood, son of Dara Singh held
- BCCI cashes Pune Warriors guarantee, 'disgusted' Sahara walks out of IPL
- Sreesanth spent Rs 1.95L on clothes, bought friend BlackBerry, paid in cash: Police
- Delhi firm with MoD as client is linked to Pak cyberattacks
- After Infosys, iGATE sacks Phaneesh Murthy for sexual misconduct
- 2 weeks after harassment, Haryana schoolgirls return, cops in tow