Chennai, Jan. 3 Three Indian human resource services companies — Ma Foi Management, EmmayHR and Team4u — are likely to be “integrated” following the acquisition of Vedior N.V. by Randstad Holding (both of The Netherlands). The integrated entity could become the largest HR player in India, according to sources.
Ma Foi with revenues of around Rs 435 crore is part of Vedior, while EmmayHR and Team4u with combined revenues of around Rs 110 crore are part of Randstad.
The combined entity in India will have over 50,000 employees as temporary staff (people on the rolls of the HR company but work for various clients), the sources said.
Randstad intends to acquire all the outstanding shares of Vedior through a mix of cash and share. A few days ago, Randstad and Vedior announced an agreement to combine the two companies to create globally the second largest HR services company with combined revenues of €17.3 billion. The entity will be the top HR company in countries such as India, Germany, The Netherlands, Belgium, Portugal, Poland and Canada, and number two in Spain, according to information available in Randstad website.
In India, the major HR services providers are Ma Foi, TeamLease, Adecco, Manpower, Team4u and Genious. These employ over 1.75 lakh temporary staff. Totally, there are over 10,000 players, including individual entrepreneurs, in the $1-billion Indian HR industry, an industry source said.