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Serco gulps Intelenet
By siliconindia
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Tuesday, 31 May 2011, 23:02 IST
Bangalore: Services and Consulting firm Serco today signed an agreement to acquire Intelenet, a leading provider of business process outsourcing (BPO) services to the private sector around the world and in the domestic Indian market, for up to £385million. With 34 global delivery centers across seven countries, Intelenet provides a broad range of middle and back office services and has a strong customer base of international organisations, primarily across the financial services, travel, healthcare and telecom sectors.
This acquisition is in line with Serco's strategy which is focused on driving organic growth, supplemented by strategic acquisitions of skills and capabilities to enter new markets and sectors where we see strong opportunities to enhance our growth and margins. The acquisition will be to "Provide access to attractive markets", "broaden our customer and geographic reach", "add to our scale and depth of capabilities".
Chris Hyman, Chief Executive of Serco, said: "The acquisition of Intelenet supports our ambitions as a leading global service company. The international BPO market is growing quickly as companies seek out new ways to improve their service and reduce costs. Their passion for their customers and people, and their philosophy of service excellence, means they will be a great asset to Serco."
Serco is a FTSE 100 international service company, which combines commercial know-how with a deep public service ethos. Serco supports governments, agencies and companies who seek a trusted partner with a solid track record of providing assured service excellence. Our people offer operational, management and consulting expertise in the aviation, BPO, defence, education, environmental services, facilities management, health, home affairs, information and communications technology, knowledge services, local government, science and nuclear, transport, welfare to work and the commercial sectors.