Sunday, June 4, 2017

TeamLease Services acquired Freshersworld

TeamLease Services has acquired 30 percent stake in Freshersworld. Freshersworld is a job site for entry level professionals.

The company said, as on June 1, 2017, all the conditions precedent to closing have been fulfilled and the acquisition of 30 per cent stake is completed. Pursuant to this, Fresher's World becomes our Associate company with effect from June 1, 2017.

Also read: KPMG acquired Matchi for undisclosed amount

Fresher's World, which has about 4 million unique visits every month, will continue to operate as a separate and independent entity.

TeamLease Services Executive Vice-President Rituparna Chakraborty said, Freshersworld's enterprise valuation is Rs 18 crore and we have taken 30 per cent stake towards that valuation and the acquisition of further stake in Freshersworld or complete exit is linked to future performance and key product milestones over the next three-year period.



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