Ciel HR, a staffing firm based in India, announced it acquired a 51% stake in Courseplay, a Mumbai-based learning experience platform amid preparations for an IPO.

The price of the acquisition was USD 2 million, according to the Hindu Business Line.

As part of the deal, Ciel acquired some shares from Courseplay Founder and CEO Arjun Gupta and IPV, a collective of angel investors. Gupta will continue to hold an entrepreneurial position in the organisation and remain CEO, he said.

Ciel also plans to strengthen its HR tech offering through the integration of Courseplay with its platforms like ProSculpt, HfactoR, Jombay and CielJobs.

Courseplay was founded in 2012. The company’s AI-powered employee experience platform focuses on offering on-the-job, social and formal learning to the workplace.

K Pandiarajan, executive chairperson and director of the Ciel Group, said in a LinkedIn post, “We are happy to welcome Courseplay into Ciel’s family. The acquisition is a pivotal step in our journey towards emerging as one of the most respected tech-led HR solution providers in the world.”

“The latest acquisition is in line with our plan to go public in December quarter and our transformation into a technology-led HR solutions provider,” Pandiarajan added.

“With our sights set on an IPO in FY25, this strategic move reinforces our dedication to driving growth and innovation in the HR space,” Pandiarajan said. “Together with Courseplay’s AI-powered platform, we are poised to transform the employee learning experience and elevate our position as the top player in the industry.”

In November 2023, Ciel successfully concluded the acquisition of Aargee Staffing Services Private Limited, an IT staffing firm based in Chennai, India.