Quess Corp Ltd. (Quess) has announced the completion of the acquisition of Randstad Lanka Ltd. (Randstad Lanka) from Randstad India Ltd., (Randstad India).
The acquisition was closed pursuant to the terms of a share purchase agreement that was entered on 14 October 2015.
Headquartered in Colombo, Randstad Lanka offers staffing and human resource solutions in Sri Lanka. The company services several clients, including Sri Lankan operations of several Fortune 500 clients.
“The acquisition lends heft to our People and Services business segment and to our presence in Asia Pacific. More importantly, Randstad Lanka gives us a strategic beachhead in Sri Lanka which can be used for launching our offerings in Integrated Facility Management, Managed Services and other businesses in Sri Lanka,” Quess Chairman and MD Ajit Isaac said.
This acquisition is expected to strengthen Quess’ position as one of the leading providers of integrated business services. Post completion of this acquisition, Quess operates across eight countries with a strong presence in the Asia Pacific.
Headquartered in Bangalore, Quess Corp Ltd. is an integrated business services provider organised under four verticals namely, Global Technology Solutions, People and Services, Integrated Facilities Management and Industrial Asset Management. Quess, along with its subsidiaries, have more than 118,000 employees (as of 30 November 2015), with operations across eight countries. Quess Corp Ltd. is a subsidiary of Thomas Cook (India) Ltd.
Randstad Lanka is a HR services company based out of Colombo. With over 550 employees, the company has a Pan Sri Lanka presence servicing several MNCs and leading Sri Lankan corporates.
Randstad Holding NV (Randstad) specialises in solutions in the field of flexible work and human resources services. The services range from regular temporary staffing and permanent placements to in-house, professionals, search and selection, outplacement, and HR solutions. The Randstad group is one of the leading HR services providers in the world, with top-three positions in Argentina, Belgium and Luxembourg, Canada, Chile, France, Germany, Greece, India, Mexico, the Netherlands, Poland, Portugal, Spain, Switzerland, the UK, and the United States, as well as major positions in Australia and Japan. In 2015, Randstad had approximately 29,750 corporate employees and around 4,473 branches and in-house locations in 39 countries around the world. Randstad generated revenue of € 19.2 billion in 2015. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad Holding nv is listed on the Euronext Amsterdam, where options for stocks in Randstad are also traded.