TeamLease Expands HR Services with TSR Darashaw & Crystal Acquisitions

Mumbai, Dec 20 (PTI) Staffing company TeamLease Services on Friday announced that it has acquired stakes in outsourcing services TSR Darashaw and HR Tech software solutions provider Crystal HR and Security Solutions Private (Crystal HR) for Rs 42.6 crore.

TeamLease Services has acquired 100 stakes in TSR Darashaw for Rs 17.6 crore, while it bought 30 per cent stakes in Crystal HR for Rs 25 crore, a company spokesperson told PTI.

"Our acquisition of TSR Darashaw's payroll processing business and Crystal HR provides crucial infrastructure for our vision of becoming India's largest Human Capital Management (HCM) service provider.

"These transactions enable us to serve over 450 corporates, managing 4,65,000 payroll records, in addition to the 3,50,000 payroll records already handled within our employment cluster," TeamLease Services MD and CEO Ashok Reddy said.

While Crystal HR offers TeamLease Services a stable, full-spectrum HRMS platform, TSR Darashaw grants access to some of the largest enterprise clients in managed payroll, Reddy added.

Shares of TeamLease Services on Friday slipped 1.05 per cent to close at Rs 2,941.15 on BSE.