M&A Deal Summary

TeamLease Acquires Evolve Technologies & Services Pvt.

On October 16, 2017, TeamLease acquired diversified company Evolve Technologies & Services Pvt.

Acquisition Highlights
  • This is TeamLease’s 1st transaction in the Diversified sector.
  • This is TeamLease’s 5th transaction in India.

M&A Deal Summary

Date 2017-10-16
Target Evolve Technologies & Services Pvt.
Sector Diversified
Buyer(s) TeamLease
Deal Type Add-on Acquisition

Target

Evolve Technologies & Services Pvt.

Pune, India
Evolve Technologies & Services Pvt. Ltd. is a provider of businesses with recruitment consulting, human resource outsourcing and staffing services. Evolve also designs and manufactures intra-oral detectors, baggage and industrial scanners. Evolve Technologies & Services Pvt. Ltd. was established in 2006 and is based in Pune, India.

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Buyer(S) 1

Buyer

TeamLease

Bengaluru, India

Category Company
Founded 2000
Sector Staffing
Employees1,937
Revenue 93.2B INR (2024)
DESCRIPTION

TeamLease is a staffing company and has tied up with employment exchanges across 10 states in India. TeamLease was founded in 2002 and is based in Bengaluru, India.


DEAL STATS #
Overall 5 of 5
Sector (Diversified) 1 of 1
Type (Add-on Acquisition) 4 of 4
Country (India) 5 of 5
Year (2017) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-29 Freshersworld.com

Bangalore, India

Freshersworld is the major job site for entry level hiring in India with about 4 million unique visits every month. It has a database of 1 crore+ resumes with over 2 lakh resumes added every month. Freshersworld dominates its competitors in fresh hire segment with an organic traffic of over 90% and is ranked among the Press Release, May 29th, 2017 Top 5 hiring portals in India in terms of traffic (as per Alexa). It has over 60,000 registered employers/ recruiters with 4,000 subscribed customers and conducts 100+ virtual recruitment drives every month. Freshersworld is one of the very few online portals with positive margins and operating cashflows.

Buy -