Telecom Signaling Industry News

TMCNet:  IKYA Group Acquires Industrial Asset Management Firm Hofincons [DealCurry (India)]

[June 08, 2014]

IKYA Group Acquires Industrial Asset Management Firm Hofincons [DealCurry (India)]

(DealCurry (India) Via Acquire Media NewsEdge) IKYA Group, the HR services arm of BSE listed Thomas Cook (India) Limited is acquiring Chennai based industrial asset management company Hofincons Infotech and Industrial Services from Transfield Services Australia.

The company did not disclose the value of the transaction however reports peg the deal size to be between INR75 Mn to a billion.

The buy further strengthens IKYA's presence in the business service space whereas for Hofincons it provides a strong financial backing from IKYA's main parent Fairax Financial Holding.

Hofincons was founded in 1978 as a maintenance & materials consulting and training company then under the name of Howard Finley Consultants (India) Pvt. Ltd. A decade later the company added contract maintenance services to its portfolio and in 1995 Hofincons Industrial Services Ltd (HISL) and Hofinsoft Services Ltd (HSL) were formed. HISL focused on consulting and field asset management services while HSL focused on asset management software development and a range of IT services for its clients.

In 1996 HSIL raised funding from @ICICI_Venture Limited and then in 1997 HSL secured investment from the same investor. Three years down the line both the ICICI ventures portfolio companies were merged to form Hofincons Infotech and Industrial Services Pvt. Ltd for providing industrial asset management services in IT-enabled consulting, operation & maintenance and training.

Then in 2006, Australia's Transfield services acquired the company for $9 Mn. The company whose interest today spans across electrical, mechanical and instrumentation services as well as facilities management, had revenues of INR1500 Mn in FY14 serving clients like Grasim, Reliance Industries, Coca-Cola and PepsiCo.

@Ikya_Human Private Limited, led by Ajit Issac was acquired by Thomas Cook, promoted by Prem Watsa-controlled Fairfax Financial Holdings through its wholly-owned subsidiary, Fairbridge Capital, last year opening a new segment for the travel and travel related financial services firm at a valuation INR2560 Mn (for 74% stake). The transaction provided India Equity Partners an exit that had invested $8 Mn (circa INR 320 Mn) in 2008 in IKYA.

With 75000 employees and operations spread across 22 cities in India, Middle East and SE Asia IKYA group engages itself In segments like asset management, IT services and HR services and has closed its books with a topline of INR 14 Bn for the last fiscal boosted through various earlier acquisitions which include Hyderabad-based tech staffing firm Magna Infotech for INR 1 Bn in 2010, Delhi-based recruitment firm Coachieve in 2009.

(c) 2014 EagleEye Research & Media Pvt. Ltd. All rights reserved. Provided by SyndiGate Media Inc. (

[ Back To Telecom Signaling's Homepage ]

Featured Events

5G NA Signaling Day

November 14-16, 2016
Sheraton Dallas, Dallas, TX

Featured Webcasts

Securing The Signaling Interconnect: Oracle's Perspective On Recent Security Events

Today's telecommunications landscape is changing rapidly, and the "institution" of trust between networks that has been assumed over the decades is no longer relevant. We are now hearing of vulnerabilities in CSP interconnection points that have been known ...

Applications of Wi-Fi Calling

With all of the discussion about faster data access and richer content, it could be assumed that voice services no longer play an important role in the business model of the communications service provider. Join ReThink Technologies Research and Oracle Communications as we explore ...

Featured Whitepapers

Oracle Communications Diameter Signaling Router Main Differentiators

Diameter is the protocol used by network elements in LTE and 3G networks to enable and monetize services, such as voice, video and data. Diameter enables revenue-generating data services; including tiered data plans, loyalty programs, application specific QoS, content provider and Internet of Things (IoT) solutions ...

Multi-Layer Security Protection for Signaling Networks

The sanctity of mobile operators' networks and brands will depend greatly on their ability to deliver QoS guarantees to roaming and interconnect partners, while simultaneously protecting increasingly multimedia-savvy and socially connected ...

Featured Datasheets

Oracle Communications Diameter Signaling Router

Centralizing Diameter routing with cloud deployable Oracle Communications Diameter Signaling Router creates a secure signaling architecture that reduces the cost and complexity of the core network and enables elastic growth, interoperability and rapid introduction ...

Oracle Communications Mobile Security Gateway

The Oracle Communications Mobile Security Gateway is a high performance gateway that allows the Communications Service Provider (CSP) to cost effectively expand network coverage and increase capacity by incorporating Heterogeneous ...

Oracle Communications Evolved Communications Application Server

As service providers drive their networks toward an all-IP and virtualized state, they require the means to design and deliver compelling high definition voice, video and multimedia offers via Voice over LTE (VoLTE) and Voice over WiFi (VoWiFi) ...

Featured Infographic