Teamlease Acquires IMSI

India-based staffing firm TeamLease Services announced that it has purchased a majority stake in India-based IMSI Staffing.

Acquires

Seller

IMSI Staffing

Buyer

TeamLease

Focus Sector

India-based staffing firm TeamLease Services announced that it has purchased a majority stake in India-based IMSI Staffing.

MSI offers services in IT, Professional Staffing and Business Process Outsourcing (BPO) and call centres.

TeamLease has acquired a 72.7% stake and will buy the rest within 180 days.

According to VCCircle, the company did not mention the total acquisition sum for a 100% stake but said it was for a cash consideration equivalent to 6.5 times the acquired company’s profit before tax for the year ended March plus the net worth as on 12 November. IMSI Staffing had recorded a profit before tax of INR 72 million (USD 1.0 million) on revenue of INR 480 million (USD 6.6 million) for the financial year.

Earlier this year TeamLease Services announced that it entered into a definitive agreement with India-based eCentric to acquire its IT staffing business.

TeamLease Services reported on Friday INR 12.67 billion (USD 177.4 million) in revenue from operations net of taxes in its fiscal second quarter ending 30 September 2019, an increase of 16.2% when compared to the same period last year.

About Buyer

TeamLease is a leading human resource service company with over 150,000 associates/trainees in 6,000+ locations. The company has 8 offices and 1,900 clients across the country for its services in Staffing, Outsourcing and Human Capital. TeamLease pursues its mission of ‘Putting India to Work’ by focusing on the 3 Es of Employment, Employability and Education. The Company in partnership with the Government of Gujarat, set up TeamLease Skills University (TLSU), India’s first vocational university, at Vadodara through which NETAP (National Employability through Apprenticeship Program) provides on-the-job training. The Company has cumulatively given employment to 1.5 million people in the last 15 years and aims to hire millions more.
www.teamlease.com

About Seller

IMSI Staffing Pvt Ltd. is a leader in providing technical specialized manpower for Managing IT Infrastructure Projects, hardware platforms, OS platforms, enterprise software applications, networking, data management and storage, internet and web-mobile-cloud platforms. We have full-time staff of 2000 plus experienced technical resources deployed over 50+ IT projects in all states with Permanent Offices – PAN India.
www.imsistaffing.com

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