Teamlease Services, a temporary staffing company, today announced that it has acquired a substantial majority stake in the Indian Institute of Job Training (IIJT). IIJT is a vocational training providers with a national network of over 250 centres and a capacity of 1 lakh concurrent students in courses that include sales, retail, finance, accounting and ICT.
The deal was completed by a combination of buying out existing shareholders (founders and Tiger Capital Management) and induction of new capital into the company. Teamlease has an option to take full ownership of the company at a future date.
