Hofincons Infotech and Industrial Services Pvt. Ltd (HIISL) was founded in 1978 as a maintenance & materials consulting and training company, then under the name of Howard Finley Consultants (India) Pvt. Ltd. From modest beginnings, the company progressed in its capabilities and established a strong market presence in India and the Middle East. In 1987, the company perceived the opportunity to add on contract maintenance services to its portfolio, which led to several contract jobs in the subsequent years. During this time, the computerization of asset maintenance activities was well underway and the company developed an IT focus and subsequently an IT specialty as well. This led in 1995 to the formation of Hofincons Industrial Services Ltd (HISL) and Hofinsoft Services Ltd (HSL).

HISL focused on consulting and field asset management services while HSL focused on asset management software development and a range of IT services for its clients. In 1996, HISL raised its first round of external funds by inviting ICICI Ventures to take an equity stake in the company. HSL too followed suit in 1997 again with participation from ICICI Ventures. In 1998, the company management and ICICI Ventures determined that in order to derive the maximum synergy and focus on Enterprise Asset Management (EAM) strategy, the two companies, HISL and HSL should be merged. In 1999, HIISL was created to emerge as a single-point source for Industrial Asset Management services in IT-enabled Consulting, Operation & Maintenance and Training.

In June 2014, Hofincons was acquired by the IKYA Group. Hofincons will benefit by having a long-term, financially strong shareholder since IKYA is part of the multinational Fairfax Financial Holding Group, held through it’s Indian listed subsidiary, Thomas Cook Private Limited.

 
ABOUT IKYA GROUP

IKYA Group is India’s market leading diversified business services group with interests in IT services, HR Services and Asset Management. Headquartered in Bangalore, the Group has revenue of 2200 crore and more than 80,000 employees. IKYA operates in more than 23 cities in India and also has presence in South East Asia & Middle East.

 

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