News: Thomas Cook acquires Ikya Human Capital Solutions

C-Suite

Thomas Cook acquires Ikya Human Capital Solutions

Thomas Cook (India) Ltd, one of the largest integrated travel services companies in the country, announced that it has signed an investment agreement to acquire a 74 per cent interest in IKYA Human Capital Solutions (Ikya), India’s leading human resources staffing solutions company for consideration of Rs 256 crores (approximately US$47 million).

Thomas Cook (India) Ltd, one of the largest integrated travel services companies in the country, announced that it has signed an investment agreement to acquire a 74 per cent interest in IKYA Human Capital Solutions (Ikya), India’s leading human resources staffing solutions company for consideration of Rs 256 crores (approximately US$47 million).

According to Prem Watsa, Founder, Chairman & CEO of Toronto-based Fairfax Financial said “We believe the acquisition of Ikya will be a great addition to the Thomas Cook (India) Ltd business. Ajit Isaac, Ikya CEO, and the entire Ikya team share very similar values with the Fairfax Group. This combination embodies our investment philosophy of long-term value creation through a strategy of friendly acquisitions of cash flow generative businesses at fair valuations.”

Source: IKYA
 

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Topics: C-Suite, #Updates, #HRIndustry

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