KPMG is looking to acquire a mid sized specialized HR firm specialized in compensation space, leadership development and HR outsourcing operations. Economic Times reports that the firm expects nearly 30% of its future human capital practice revenues will stem from inorganic growth.
KPMG India partner and head (human capital practice) Ganesh Shermon informs
We are exploring targets for acquisitions in India and in the Saarc region. An acquisition will help us trigger revenue growth to reach our target of $20 million from this practice by 2009-10
KPMG India floated its dedicated human capital practice this September to tap the current HR consultancy boom in India. It has already bagged some 24 bluechips and plans to tap its existing clientele in other practices to grow this business. “We expect nearly $5-7 mil-lion revenues in the first year itself,” Mr Shermon said.
Meanwhile in UK KPMG accountants are having a bumper time.
Accountants at KPMG will have a bumper Christmas after the firm's UK business reported record annual turnover. Revenue in the year to September 30 rose 11pc to £1.6bn, while profit was up 20pc to £447m.
Reports The Telegraph (UK)
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