Chennai, Nov 27 Human resources (HR) solutions provider CIEL Group on Monday announced acquisition of staffing company Aargee Staffing Services Private Ltd.
According to CIEL, Aargee Staffing is an information technology (IT) staffing company.
This strategic acquisition, the fourth in the last one year, signifies another stride in CIEL's pursuit of growth objectives and its IPO plans, it said, adding that this acquisition will help CIEL further enhance its professional staffing service.
"The integration of Aargee Staffing with CIEL Group marks a significant step towards fortifying our Tech Staffing Services to the market and further our IPO (initial public offering) plans," CIEL Group Executive Chairperson, K.Pandiarajan, said.
Earlier Pandiarajan said CIEL HR Services Private Ltd will be raising about Rs 200 crore as pre-IPO funding out of which Rs 150 crore will be used for acquisitions and the balance will be for marketing, strengthening the digital assets, working capital, scaling up the company and others.
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