CIEL HR Acquires Stake in Thomas Assessment: Expanding Talent Solutions

Mumbai, Oct 17 (PTI) HR solutions provider CIEL HR on Thursday said it has acquired 51 per cent stake in assessment solution provider Thomas Assessment through an equity and share swap deal.

The balance 49 per cent of the shareholding will be acquired in the next two years.

"We have acquired 51 per cent stake in TAPL, which has the licence to offer the Thomas suite of assessment products in the SAARC region, in a mix of equity and share swap. And the rest will be acquired in the next two years," CIEL HR Services Managing Director and CEO Aditya Narayan Mishra told PTI.

However, he did not disclose the deal size.

This acquisition expands CIEL HR's offerings in the Indian talent assessment and development market while expanding the company's footprint in the South Asian Association for Regional Cooperation (SAARC) region.

"As we continue to focus on HR Tech innovation, the acquisition of Thomas Assessments supports our mission to deliver more precise and science-backed talent solutions that can help our clients enhance their hiring processes, improve team performance, and develop future-ready leaders," Mishra stated.

With this acquisition, CIEL HR will now be able to offer its clients a solution to make their talent acquisition processes more precise and a wider choice to tailor-make their talent development processes, he added.

Meanwhile, the HR solutions provider has been planning an IPO in the fourth quarter of this financial year to raise around Rs 500 crore from the capital markets and will soon file for DRHP (Draft Red Herring Prospectus).

The funds will be utilised to fuel further growth of the company.