Olson PE fund has picked-up a 5% stake in CandyDate Jobs for US $52 million valuing the company at $1.04 billion.
March 26, 2011 (Newswire) - Singapore based Olson PE fund has picked-up a 5% stake in California based CandyDate Jobs for US $52 million or Rs 236 crore, thereby valuing the company at US $1.04 billion or Rs 4,620 crore. CandyDate Jobs operates in over 30 countries worldwide and is the largest human resource consultancy of India.
CandyDate Jobs currently provide placement and internship services to the job seekers worldwide. CandyDate Jobs is a privately held organization with the 98% promoter holding, after this deal the promoter holding will fell to 93%.
CEO of CandyDate Jobs and one of the promoters, Rahul Malhotra, said, "This investment will help us to grow organically, we will invest in growing economies particularly in Asia."
CandyDate Jobs employs nearly 980 people worldwide and posses a registered user base of 1 million.