IKYA signs agreement to acquire Brainhunter, Canada

Integrated Business Services provider IKYA Group today announced signing of a definitive agreement to acquire Brainhunter (Zylog Systems (Canada) Limited), subject to statutory and regulatory approvals.
The company headquartered in Toronto (Canada), is a leading IT and Engineering professional firm, employing about 700 professionals and with revenues of about USD 80 mn, IKYA Group said in a release.
It said this acquisition will help IKYA position itself as a global IT staffing and Technology solutions group, with a strong footprint in the North American market.
Brainhunter services several marquee clients, many of whom are in the Fortune 500 list and in addition counts on a number of Canadian government institutions as its major clients, it added.

IKYA Group said the combination of these two companies will create an IT staffing entity with a global presence across North America, Middle East, India & South East Asia employing 11,000 IT professionals.
Brainhunter will benefit by having a long term, financially strong shareholder since IKYA is part of multinational Fairfax Financial Holdings, held through its Indian listed subsidiary, Thomas Cook India Ltd, it added.
"Brainhunter is a terrific brand with a solid management team that will serve as a spring board around which we will build our IT staffing business in North America. The combination of Brainhunter's knowledge and depth in American markets along with IKYA's financial strength and execution capability will enable the creation of a market leading global IT staffing company," Ajit Isaac Chairman and MD IKYA Group said.

"We are pleased to be part of IKYA which in turn is a Fairfax Investee Company. To be a subsidiary of India's largest IT staffing company will give us access to the largest technology talent pool in the world, an advantage that few companies in Canada have, " John Mehrmann CEO Brainhunter said.