Quess Corp to acquire Randstad Lanka

Travel services provider Thomas Cook India today said its arm Quess Corp has signed a pact to acquire Randstad Lanka from Randstad India Pvt Ltd for an undisclosed amount.

Post acquisition, Quess will have presence in 8 countries with a strong presence in Asia Pacific, Thomas Cook said in a filing to BSE.

Quess Corp Chairman and MD Ajit Issac said: "This transaction will strengthen our position as a leading Pan Asian player serving clients across South Asia, Middle East and South East Asia."

The acquired business will continue to benefit from a long term, financially strong shareholder, "since Quess Group is an investee company of Fairfax Financial Holdings, held through its Indian listed subsidiary, Thomas Cook India", the company said.

Established in 2007, Bengaluru based Quess Corp is a business services provider and has about 1,10,000 employees and serves over 1,500 customers across eight countries in over 8,000 locations.

Shares of Thomas Cook India were today trading at Rs 208.25 per scrip in the afternoon trade on BSE, down 1.79 per cent from its prvious close.

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