IKYA Group a subsidiary of Thomas Cook (India) today signed agreement to acquire asset management services firm Hofincons Infotech & Industrial Services for an undisclosed amount.
"IKYA Group today announced the signing of definitive agreements to acquire Hofincons Infotech & Industrial Services from Transfield Services, Australia," Thomas Cook (India) said in a BSE filing.
Commenting about the development, IKYA Group Chairman Ajit Isaac said: "The acquisition will further strengthen IKYA's position as India's leading player in business service space."
As a result of the acquisition, Hofincons will benefit by having a long term, financially strong shareholder since IKYA is part of multinational Fairfax Financial Holdings Group, held through it's Indian listed subsidiary, Thomas Cook India, the company said.
Shares of Thomas Cook India today closed at Rs 98.55 on BSE, down 0.76 per cent from previous close.
