Ikya acquires recruitment firm

Ikya, an integrated HR solutions company, has made its second acquisition within a couple of months. This time, it has acquired a New Delhi-based recruiting firm, Coachieve Solutions, in a stock-cum-performance-oriented cash deal.

With this, Ikya has entered another vertical — recruitment process outsourcing — after having entered facilities management recently with the acquisition of Avon. Coachieve has its operations in Delhi, Mumbai, Bangalore and Pune.

“It is a tactical acquisition. We brought them in for the management team,” said Ajit Isaac, CEO, Ikya Human Capital Solutions. “It will add management depth,” added Isaac. Ikya has two major stakeholders with private equity fund India Equity Partners (IEP) and Ajit Isaac. Isaac during 2004 sold PeopleOne to Adecco.

 

Before starting operations for Coachieve, an 18-month-old VC-funded search firm, Achal Khanna was the country general manager and managing director for Kelly Services India, a Fortune 500 global staffing solutions company.

Ikya aims to have 50 per cent of its net service revenues from recruitments in the near future. The acquisition will help Ikya widen its service area, expand and increase revenues.

RPO is one the fast growing segments of today.