TMF Group, a leading provider of high-value business services to clients operating and investing globally, has agreed to acquire Nyaasa, a 33-strong Indian business process outsourcing firm.
The acquisition was completed in October and will see Nyaasa's Pune-based business – which specialises in bookkeeping, management reporting, taxation, payroll, registration and licenses as well as fixed assets verification and tagging – integrated into TMF Group's Indian arm.
Nyaasa's founder Kaustubh Behere, said: "This acquisition marks an exciting milestone for our business. At a local level, TMF India's services are well established and highly complementary. On a broader scale, TMF Group's global footprint will likely be of significant benefit to our clients with global service needs.
"We are excited to be part of a global company and looking forward to a successful integration of both entities."
Shagun Kumar, Managing Director at TMF India, said: "I am delighted to welcome the Nyaasa team into the TMF Group, and this acquisition makes us one of the biggest players in Pune. We have a vision of serving the ever-expanding Pune client base – this will be driven by expanded local delivery capability and also exploring new business models like start-ups which the Nyaasa team has successfully implemented. Pune is integral to the TMF India 2020 vision and this is a big step forward."
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