MMB Legal and Tatva on Ikya acquiring Magna for 22 million

Bar & Bench December 24 2010

Ikya Human Capital Solutions an HR solutions company has acquired Magna Infotech (tech staffing firm) based in Hyderabad, for Rs. 100 crore ($22 million).

 

MMB Legal advised Ikya with a team comprising of Mahesh Madan Bhat and Amrut Joshi along with Ryan Locke.

 

Tatva Legal advised Magna Infotech with a team led by Partner Ekta Bahl and Anushree Bhog.

 

As demand for temporary software programmers picks up, outsourcing companies are increasingly looking to avoid adding more staff on their payroll, and are instead sub-contracting projects to companies such as Magna. Already, the Indian contracted staff market . . .

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