Wednesday June 01, 2011

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By Sam Devraj  ( Assistant Editor )

India acquisition: Serco chief executive Chris Hyman

BRITAIN’S Serco is to buy Indian outsourcing company Intelenet for up to £385m ($634m) as part of a drive into higher-growth overseas markets.London-based outsourcer Serco, which wants to bolster its international businesses after recent strong growth, said the deal would provide access to markets that are forecast to grow by around 15 per cent per year in the medium term.“The international BPO (business process outsourcing) market is growing quickly as companies seek out new ways to improve their service and reduce costs,” chief executive Chris Hyman said yesterday.Intelenet, which provides outsourcing services such as accounting to the private sector in India and internationally, operates in seven countries, working mainly in the financial services, travel, healthcare and telecom sectors.Serco said it expected to see growth in servicing the banking, financial services and insurance markets in the US and UK, as well as in India’s domestic market, which it said is expected to be worth $2.5bn by 2014.

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