Ikya Human Capital Solutions acquires Magna Infotech
Ikya Human Capital Solutions, one of the fastest growing staffing companies in India, acquired Magna Infotech, a Hyderabad-based IT staffing company and the largest player in the Indian IT staffing market, in a INR 100 crore deal.
Leading private equity fund, India Equity Partners (IEP) and Ajit Isaac (founder of PeopleOne which was sold to Adecco) are key shareholders of Ikya. Magna Infotech is a technology staffing firm with over 5,000 staff. The combined entity will become one of the leading staffing players in the country in terms of size and range of services offered.