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Chennai-based CIEL HR, provider of technology-driven solutions across the entire HR value chain, has acquired psychometric tools provider Thomas Assessment Private Ltd (TAPL). This Mumbai-based company also has entity called People Metrics Private Ltd, which provides assessment solutions.
It will be the CIEL HR’s sixth acquisition since December 2022 and comes ahead of the planned IPO in the fourth quarter of this fiscal.
The acquisitions will expand CIEL HR offerings in the Indian talent assessment and development market while expanding its footprint in the SAARC region, said Pandiarajan, Chairperson and Executive Director of CIEL HR Services Ltd. Declining to give details of the acquisition cost, he said both companies reported combined revenue of ₹17 crore for the previous fiscal.
Pandiarajan said CIEL has its own talent assessment while a subsidiary Jombay also provides HR Tech platform for talent assessment and development. Along with Thomas Assessment, the three entities collectively will report revenue of ₹57 crore for the current fiscal, he told newspersons in a virtual press meet.
TAPL has been the exclusive distributor of Thomas International’s suite of psychometric tools in the SAARC region, offering advanced analysis that deliver actionable insights for recruitment, talent mobility, succession planning, and leadership development. These tools have been used in several assessments globally, helping organisations make better-informed people decisions across diverse industries and cultures.
Operating from 92 offices in 43 locations, CIEL HR has serviced 3,958 companies across sectors as of June 30, 2024.
For fiscal ended March 31, 2024, the company’s revenue was ₹1,086 crore.
A company release said that CIEL HR’s revenue from operations achieved a CAGR of 62 per cent between FY21 to FY24.
In the last 3 financial years and the Q1 ended June 30, 2024, the company has assessed 220,777 managers, pay rolled 53,000 employees in June 2024 alone, ProSculpt has partnered with 30 colleges spanning 7,000 students, conducted offline trainings using LMS course content for 90,000 students across 400 colleges in Tamil Nadu and Karnataka, the release said.
IPO on track
Pandiarajan said the company plans to file the DHRP soon, and hit the market in the fourth quarter of this fiscal. The company plans to raise ₹450 crore with ₹100 crore as offer for sale.
CIEL Group has raised ₹43 crore on a private placement mainly through high networth individuals and companies like Zoho, Bharatmatrimony and CavinKare.
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