Manpower Buys 74% Stake In Kolkata-Based WDC
US-based Manpower Inc has bought 74% stake in Kolkata-based Web Development Company Limited (WDC).
WDC will henceforth become the exclusive vehicle for all IT-related staffing and services operations of Manpower in India.
This acquisition would strengthen Manpower's presence and capabilities in India and Asia-Pacific region.
Founders of WDC, Rahul Sharma and Harsh Hada, will hold the remaining 26% stake in the company.
Transaction Reference: Indian Express
WDC is mainly into IT staffing business and also offers application support services to many large clients in India and Asia Pacific. It has more than 1,400 employees and also has an office in Singapore.
Some of its clients include companies like IBM, Cap Gemini, Wipro, Tech Mahindra, Tata Technologies, PriceWaterHouse Coopers and KPIT Cummins.
Manpower Inc. provides several innovative workforce-based solutions to its clients in the IT related staffing services segment.
Manpower already operates in India through its subsidiary Manpower Services India Pvt Ltd. It has 17 offices in India across 13 cities.
Last November, Bangalore based integrated HR solutions company - IKYA Human Capital Solutions acquired Hyderabad-based tech staffing firm Magna Infotech for Rs.100 Cr. In 2009, Ikya had acquired Delhi-based recruitment firm Coachieve.
In 2004, Switzerland-based staffing and HR services firm Adecco SA bought 67% stake in Indian staffing firm Peopleone Consulting Pvt Ltd.
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