Ma Foi founder launches new HR company
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Ma Foi was started in 1992 and the Netherlands-based Vedior picked up a majority stake in the company two years later. In 2008, Randstad took control of Ma Foi through its global acquisition of Vedior.
CIEL plans to use analytics heavily, with consequently higher productivity for the recruiter by using less manpower.
The company will launch a platform where clients and candidates can find each other.
Rajan, chairman of CIEL HR Services and a Tamil Nadu assembly legislator, said the new venture will be different from other job portals.
Rajan, his wife Lata Rajan, CIEL chief executive officer Aditya Narayan and chief operating officer Santosh Nair are co-founders of the company, which has been started with an investment of Rs.3 crore.
Rajan’s other companies Ma Foi Analytics and Business, Ma Foi Connecting Dots and Ma Foi Education have taken a licence to use the brand name ‘Ma Foi’ from Randstand.
The Ma Foi brand is owned by Randstad, and there is dialogue going on regarding the date of transfer with Randstad, he added. Rajan had a non-compete agreement on human resources services with Randstad, which expired in March.