Serco acquires India's Intelenet

31st May 2011 07:08

Serco, the outsourcing company whose activities include running prisons and London's Docklands Light Railway, has announced the acquisition of India-based service provider Intelenet for up to £385m.Intelenet provides business process outsourcing (BPO) services to the private sector in India and internationally. It has operates from 34 centres in seven countries and is focused on the financial services, travel, healthcare and telecom sectors.Serco said the acquisition gives it access to the fast-growing Indian BPO market, broadening its customer and geographic reach. The acquisition is expected to be earnings accretive in the first full year."Intelenet's high value capabilities and customer base, together with its economies of scale, means we can access new markets and strengthen our existing propositions," said chief executive Chris Hyman. "I am particularly delighted that the Intelenet management team will join us to continue driving the business forward."---RG