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TeamLease has acquire ASAP Info Systems, gets into IT staffing

TeamLease Services has said that it will be acquiring ASAP Info Systems for an enterprise value of Rs 67 crore.

ASAP Info Systems that is headquartered at Bengaluru offers IT staffing solutions to various MNCs and domestic companies with over 1,000 associates and 171 crore employees as of date.

The company has said in a statement that “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.”

A definitive agreement to this effect has been signed by TeamLease Services.

The transaction is going to be done through TeamLease’s wholly owned subsidiary TeamLease Staffing Services Private and with subject to customary closing conditions and regulatory approvals.

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