The company is looking to make two significant acquisitions in the next few months, in an endeavour to strengthen its portfolio and expand presence outside India.
After entering into, what is one of the largest deals in HR so far, with the private equity firm Multiples, investing over Rs 400 crore, PeopleStrong is now looking to expand further. The company is expected to make two significant acquisitions this year in an endeavour to strengthen its portfolio.
Pankaj Bansal, chief executive officer and co-founder, PeopleStrong, tells HRKatha that the company plans to expand outside India as well. One of the acquisitions will, therefore, be international.
Although, the details about the firms being considered and the size of the acquisition are not clear yet, Bansal shares that, “One of the acquisitions will be in the match-making or recruitment space as PeopleStrong looks to strengthen its RPO offerings. The other will be in the payroll and technology space.”
Bansal also shares that for the acquisition in the payroll- related artificial intelligence domain, it seeks to strike a deal outside the country, helping expand its presence internationally. He also stated that this will be a significantly larger deal. However, it is still in the planning phase and the closures would be visible only after six to nine months.
On the other hand, the acquisition in the recruitment technology area would be announced within the next two months itself. With these two acquisitions, PeopleStrong would apparently become the largest HR firm in the country.