In a bid to spread its reach in India, Japan-based Outsourcing Inc has acquired majority stake in staffing firm Alp Consulting Ltd for Rs 30 crore.
Through this acquisition, Alp Consulting would become a part of Japanese publicly listed staffing firm and will provide a platform for Outsourcing Inc to engage with the Indian market.
The Japanese partner (Outsourcing Inc) would have a majority stake in the organisation and brings in an investment of about USD 5 million (Rs 30 crore).
"The Japanese firm is looking at expansion through leveraging synergies of manufacturing and IT engineering outsourcing services provided by the Alp Group and extending those services and providing them to Japanese companies," a company statement said.
The M&A may also facilitate staff placement in other countries like Australia, Singapore and Japan, it added.
"This partnership will allow us to add value to our existing and future clients, beyond just staffing. With this partnership and such potential growth prospects we are hopeful of reaching greater heights and emerging as a leader in the space," Alp Consulting Co-founder and Chairman Jayachandran Pillai said.
Commenting on the transaction, Outsourcing Inc Chairman and CEO Haruhiko Doi said "with a growing interest among Japanese companies to foray in the Indian market, we are happy about our first acquisition in India.
