TeamLease Set to Acquire Stakes in TSR Darashaw, Crystal HR
Deal News | Dec 24, 2024 | Aim Group
TeamLease Services Ltd., a prominent HR services company based in India and the parent company of FreshersWorld, has announced its plans to acquire stakes in TSR Darashaw and Crystal HR, two firms specializing in HR technology services. While the financial terms of these acquisitions remain undisclosed, the strategic importance is highlighted by executives from the respective companies. TSR Darashaw, known for its outsourcing services in HR and payment processing, views this as an opportunity to enhance the value delivered to its clients by teaming up with TeamLease's extensive domain expertise and talent pool. Meanwhile, Crystal HR, offering solutions like Wallet HR, aligns its services with TeamLease’s vision to strengthen client partnerships through innovative solutions and scalable talent delivery. TeamLease has a robust footprint, delivering HR services to nearly 3,900 companies and placing over 2.3 million candidates globally since its inception in 2000. For the quarter ending September 2024, TeamLease reported a significant revenue increase of 23% year over year, amounting to INR27.9 billion ($331 million).
Sectors
- Human Resources
- Technology
Geography
- India – The article references TeamLease, a major HR services company based in India, which is expanding its footprint through acquisitions.
Industry
- Human Resources – The article focuses on acquisitions within the HRtech sector, involving companies that provide HR-related outsourcing and technology solutions.
- Technology – Crystal HR is identified as a technology company offering HR solutions like Wallet HR, indicating a strong tech component in the industry dynamics.
Financials
- $331 million – TeamLease's consolidated operating revenue for the quarter ending September 2024.
- INR27.9 billion – The equivalent revenue figure in Indian Rupees for the same time period.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| TeamLease Services Ltd. | Buyer | Company | An India-based HR services company aiming to enhance its service offerings via strategic acquisitions. |
| TSR Darashaw | Target | Company | Provides HR outsourcing services and specializes in HR and payment processing. |
| Crystal HR | Target | Company | Offers HR technology solutions including Wallet HR, aligning with TeamLease's strategic vision. |
| Darashaw Keki Mehta | Director | Person | Director of TSR Darashaw, commenting on the benefits of the acquisition. |
| R.S. Raman | Founder and CEO | Person | Founder and CEO of Crystal HR, emphasizing alignment with TeamLease’s strategic goals. |