IPO-bound CIEL HR acquires Thomas Assessment, People Metrics to expand talent assessment portfolio

Human resources and staffing solutions firm CIEL HR Group has acquired Mumbai-based firms Thomas Assessment Private Limited and People Metrics Private Limited, which specialise in talent assessment.

These acquisitions enhance CIEL HR’s capabilities in the Indian talent assessment and development market while broadening its presence across the SAARC region, strengthening its geographic reach and service portfolio.

Thomas Assessment, backed by 43 years of global expertise, specialises in psychometric tools for behavioural, cognitive, personality, and emotional intelligence assessments, while People Metrics provides comprehensive assessment solutions.

“This (Thomas Assessment) is one important strategic acquisition which strengthens our presence in the assessment and development sector of the HR value chain. We also strengthen our talent assessment and development solutions and gain entry into the SAARC region, with Thomas,” said K Pandiarajan, Executive Chairperson and Director of CIEL Group, during a media briefing.

The Bengaluru-based firm has acquired a 51% stake in Thomas Assessment through an undisclosed cash and share swap deal, with plans to fully acquire the HR services company over the next 18 months, according to Pandiarajan.

“Since our inception, we have focused on elevating the standards of talent assessment and organisation development in India. I am excited to see us become a part of the CIEL HR Group taking our product suite to the large clientele of CIEL HR Group and unleashing our synergies,” said Sundara Rajan, Founder and Director of Thomas Assessments and People Metrics.

These two acquisitions follow the Bengaluru-based company’s purchase of another Mumbai-based upskilling startup Courseplay for $2 million in a mix of cash and share swap.

Before these acquisitions, the firm had bought Chennai-based IT staffing company Aargee Staffing Services in December 2023 and talent assessment company Jombay in December 2022.

CIEL HR Group, which is gearing up for an initial public offering (IPO) in the fourth quarter of the current fiscal year, is backed by prominent investors such as Sridhar Vembu of Zoho, CK Ranganathan of CavinKare, and NS Rajan, the former group Chief Human Resources Officer of Tata Group​

The Bengaluru-based company clocked a consolidated revenue from operations of Rs 1,085 crore for FY24, up 36% from Rs 799 crore in the previous fiscal year. Additionally, its profit after tax for FY24 amounted to Rs 10.8 crore.

“We have been growing at around 40% over last year as of the six months of this past year. We are well on our way to meeting our commitments to the shareholders,” remarked Pandiarajan.

CIEL HR Group offers a comprehensive range of technology-driven human resources solutions that span the entire employee lifecycle, influencing all aspects of HR management. As of June 30, 2024, the company operates from 92 offices across 43 locations and has served 3,958 clients across various sectors.