CIEL Group makes 'strategic investment' in Next Leap Career Solutions

City-based CIEL Group has made a strategic investment in Next Leap Career Solutions Pvt Ltd by signing a definitive agreement to acquire 100 per cent equity stake in tranches, the company said on Sunday.

The acquisition is part of the strategic vision of the company to expand its offering in the human resource services space.

"With this acquisition, CIEL Group strengthens its position further as a workforce solutions company leveraging technology," said a company statement.

Pi Capital and Legalogic are advisors of Next Leap Career Solutions, while NovoJuris represents CIEL Group in this deal.

However, the company did not disclose the value of the deal.

CIEL (HR services) managing director Aditya Narayan Mishra said, "This acquisition, in line with our IPO plans, is part of our strategic vision to expand our technology-led offerings in the HR services domain."

"It will complement our existing subsidiary Integrum Solutions operating in HR technology space and will help us expand our client portfolio in the market. With this acquisition, we penetrate deeper in the market and expand our margins," Mishra, also the company's CEO, said.

The solutions provided by Next Leap Career Solutions Pvt Ltd (Jombay's technology solutions) are used by more than 500 marquee organisations for identifying and building leaders and making them future-ready.

Every year, over two lakh managers and leaders go through the assessment and development programmes offered by Next Leap Career Solutions Pvt Ltd, the statement said.