TeamLease Expands Its Domain with Strategic Acquisitions

TeamLease Services has acquired stakes in TSR Darashaw and Crystal HR to enhance its capabilities in Human Capital Management. The acquisitions, totaling Rs 42.6 crore, aim to expand TeamLease's payroll processing and HR tech services, serving over 450 corporates and managing 815,000 payroll records.

India's staffing company TeamLease Services is expanding its reach in Human Capital Management by acquiring stakes in two service companies. The acquisitions include 100% of TSR Darashaw and 30% of Crystal HR, totaling Rs 42.6 crore.

TeamLease Services' spokesperson revealed the company paid Rs 17.6 crore for full control of TSR Darashaw, while investing Rs 25 crore for a significant stake in Crystal HR. These strategic moves are part of TeamLease's vision to become India's largest service provider in Human Capital Management.

Managing Director and CEO Ashok Reddy stated these acquisitions enable TeamLease to serve over 450 corporations, managing a combined total of 815,000 payroll records. The deals also provide access to Crystal HR's full-spectrum HRMS platform and TSR Darashaw's significant enterprise clientele.

(With inputs from agencies.)