Abu Dhabi conglomerate International Holding Co. (IHC) on Wednesday announced the acquisition of a 55% majority stake in Reach Employment Services for 315 million dirhams ($86 million).

Reach is one of the largest market leaders for employees’ recruitment and outsourcing, serving a diverse range of government and private organizations in the UAE, IHC said in a statement to Abu Dhabi’s ADX exchange.   

(Writing by Brinda Darasha; editing by Seban Scaria)