Business services and staffing company Quess Corp, a subsidiary of Thomas Cook (India), has signed a definitive agreement to acquire Randstad Lanka from Randstad India, subject to statutory and regulatory approvals.

Headquartered in Colombo, Randstad Lanka is a HR services company providing recruitment and staffing services in Sri Lanka.

This acquisition will strengthen Quess' position as a leading provider of integrated HR solutions across staffing, permanent recruitment, executive search and RPO and marks the emergence of Quess as India's first MNC in the HR services space. Post this acquisition, Quess will have presence across eight countries with a strong presence in the Asia Pacific, the company said.

Ajit Isaac, chairman and MD of Quess said, "We welcome the employees of Randstad Lanka to Quess. The company has a strong presence in Sri Lanka where we expect to see rapid growth in the future. 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.