"IKYA Group today announced the signing of definitive agreements to acquire Hofincons Infotech & Industrial Services from Transfield Services, Australia," Thomas Cook (India) said in a BSE filing.
Commenting about the development, IKYA Group Chairman Ajit Isaac said: "The acquisition will further strengthen IKYA's position as India's leading player in business service space."
As a result of the acquisition, Hofincons will benefit by having a long term, financially strong shareholder since IKYA is part of multinational Fairfax Financial Holdings Group, held through it's Indian listed subsidiary, Thomas Cook India, the company said.
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