CIEL HR acquires Next Leap Career Solutions

2 Dec 2022 , 06:45 AM

Next Leap Career Solutions was bought by CIEL HR Services, a company that offers workforce and skilling solutions. The value of the  deal has not been disclosed.

The first half of FY23 saw an 80% year-over-year increase in revenue for CIEL, which intends an initial public offering (IPO) in the second quarter of the next fiscal year, reaching Rs 382.59 crore from Rs 212.25 crore the previous year. The operating EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin for the company is Rs 4.58 crore.

Following a contract, CIEL will gradually purchase its entire equity stake in Next Leap, which runs under the Jombay name. According to the company, the acquisition will improve CIEL’s position as a provider of workforce solutions using technology.