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Team Lease Services announced that the Company has signed definitive agreement to acquire Bangalore based ASAP Info Systems, through its wholly owned subsidiary, Team Lease Staffing Services for Rs 67 crore.
The transaction, which will be immediately accretive to TeamLease's earnings per share, will be financed with existing financial resources and is expected to close before the end of August 2016.
ASAP Info Systems offers IT staffing solutions to various MNCs and domestic companies with over 1,000 associates and 171 core employees as of date. ASAP is a Tier 1 staffing provider to reputed MNC'S. ASAP Info Systems operates through its offices across India, Bangalore being its corporate office and has branches across Chennai, Hyderabad, Gurgaon and Pune.
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