Allegis Group close to buying recruitment cos in India
Global HR major Allegis Group is now eyeing the inorganic route to get a foothold in the recruitment space. It will also look at entering the IT solutions domain.
By Thanuja BM & Sushmita Mohapatra, TNN |
BANGALORE: Global HR major Allegis Group, a $5-billion company, is close to acquiring two recruitment companies in India. The firm, regarded the world’s largest temp staffing firm, set up shop in India in 2005 through acquisition of engineering services company EASi. It is now eyeing the inorganic route to get a foothold in the recruitment space.
Allegis India MD Pravin Tatavarti said: “We are in the process of acquiring two companies. One is a Hyderabad-based temp staffing company while the other is a Bangalore-based permanent hiring firm, both in the IT space.”
He declined comment on the value of the deals but said that it was significant. The firm is also scouting for companies in Delhi and Mumbai, especially in the financial services, pharma and real estate sectors. Going ahead, it will also look at entering the IT solutions domain.
The group, which primarily operates in the US and Europe and has over 8,000 clients and 4,000 employees, is now looking east. “We do plan to expand in Asia more aggressively,” Tatavarti said.
Allegis has just closed the acquisition of a permanent staffing company in China. The Allegis Group’s multiple acquisition strategy is slightly different to other global HR companies, which generally have made one acquisition in the country and scaled before looking at other options.
The latter include Adecco which bought Peopleone Consulting and is now looking at other buys, and Vedior, which bought Mafoi. In India, Allegis has set up a recruitment process outsourcing unit as a captive that supports internal HR activities. “We plan to set up an HR consultancy practice and also look at areas like assessments,” he said.
Allegis India MD Pravin Tatavarti said: “We are in the process of acquiring two companies. One is a Hyderabad-based temp staffing company while the other is a Bangalore-based permanent hiring firm, both in the IT space.”
He declined comment on the value of the deals but said that it was significant. The firm is also scouting for companies in Delhi and Mumbai, especially in the financial services, pharma and real estate sectors. Going ahead, it will also look at entering the IT solutions domain.
The group, which primarily operates in the US and Europe and has over 8,000 clients and 4,000 employees, is now looking east. “We do plan to expand in Asia more aggressively,” Tatavarti said.
Allegis has just closed the acquisition of a permanent staffing company in China. The Allegis Group’s multiple acquisition strategy is slightly different to other global HR companies, which generally have made one acquisition in the country and scaled before looking at other options.
The latter include Adecco which bought Peopleone Consulting and is now looking at other buys, and Vedior, which bought Mafoi. In India, Allegis has set up a recruitment process outsourcing unit as a captive that supports internal HR activities. “We plan to set up an HR consultancy practice and also look at areas like assessments,” he said.
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