Serco Acquires Intelenet for Rs.2,770 Crore

Serco has acquired Intelenet Global Services Pvt Ltd, Mumbai, for about Rs.2770 crore (385 million Pounds Sterling).

Intelenet is a major BPO company in India and Serco is a leading international service company.

Susir Kumar, Chief Executive of Intelenet, said: "becoming a part of Serco will propel us to our next phase of growth by helping us to address a wider market and to provide more end-to-end solutions. The management and organization will remain in place and I will continue as CEO while Thomas Ryan, Senior Director, Serco Group gas been appointed as Executive chairman of Serco's BPO Division. As of now, there is no decision on re-branding the company."

Thomas Ryan said: "Together with our existing BPO-related operations we will have around 40,000 employees making us strongly placed to provide customers a broad range of end-to-end business services."

Chris Hyman, CEO, Serco, said: "The acquisition of Intelenet supports our ambitions as a leading global services company. The international BPO market is growing quickly as companies seek out new ways to improve their service and reduce costs."