Anand Rathi group-backed Sapphire Human Solutions acquires executive search business of Yotak Human Resources

Mumbai-based executive search firm Sapphire Human Solutions has bought the executive search business of Yotak Human Resources for an undisclosed amount, a statement said.

Yotak is based out of Mumbai and has presence in internet and media verticals.

Following the acquisition of executive search business of Yotak, which claims to have placed the leadership teams in over a dozen internet start-ups, Sapphire will mark its presence in the fast growing internet and e-commerce industry.

Currently, Sapphire offers human resources solutions to industries like BFSI, consulting, real estate & infrastructure and pharmaceutical.

Sapphire, started in 2008, raised its first round of venture capital funding from Anand Rathi Group. The company has around 35 consultants at its offices in Mumbai, New Delhi and Bangalore.

Yotak was founded by Tanzeer Reen and is headquartered in Mumbai. In February this year, travel services firm Thomas Cook India signed an agreement to buy 74% equity stake in human resources and staffing firm Ikya Human Capital Solutions for about Rs 256 crore.

Also, in August, Japan-based Recruit Holdings, one of the largest staffing firms in the world, acquired Indian executive search firm NuGrid Consulting.

(Edited by Joby Puthuparampil Johnson)

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