IKYA buys 49 per cent stake in Canadian tech company MFXchange


IKYA, a staffing company owned by Thomas Cook India, on Tuesday said it has agreed to buy a 49% stake in MFXchange, the technology applications subsidiary of Canadian property and casualty insurer Fairfax.

The company will combine MFX with its nearly $200-million IT services business, and has appointed Vikram Gulati, a WiproB veteran and most recently CEO of IT firm Happiest Minds, as its head.

This will mark IKYA’s foray into the multi-billion dollar outsourcing market dominated by IBM, Accenture, Tata Consultancy

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