Bangalore based integrated HR solutions company - IKYA Human Capital Solutions has acquired Delhi based - Coachieve Solutions in a stock-cum-performace-oriented cash deal. Coachieve has its operations in Delhi, Mumbai, Bangalore and Pune.
This is Ikya's second acquisition. It had recently acquired Avon Management services - a facilities management comapny offering housekeeping and maintenance services.
With this deal, Ikya has entered another vertical - Recruitment Process Outsourcing vertical. RPO is among the fast growing segment of recruitment today. This has been a result of many firms as part of their cost-cutting measures outsourcing their recruitment and the whole gamut of activities that go into recruitment.
Right from managing short listing to even onboarding, which is the post-resignation transition, and verification of the credentials of candidates, many companies are today outsourcing the process to. Ikya sees it as a major line of business in the future.
Ikya has two major stakeholders with PE fund India Equity Partners (IEP) and Ajit Isaac. Isaac during 2004 sold PeopleOne to Adecco. In 2008, it had recieved $ 8 mn VC funding from India Equity Partners.
