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The inside story of Serco's Intelenet acquisition
Tuesday, 5th July 2011
The buyout added a large international back office firm to the UK-headquartered Serco that runs prisons to cycle hire schemes to games venues to missile warning systems for the UK. It also operates the Dubai metro rail and air traffic control for UAE. Hyman was looking to build an international back office capability to supplement Serco's front office capability. The buyout added customers such as Barclays, State Bank of India, Travelport, BSNL and Aircel to Serco, besides giving it a toe-hold in international back office operating at 15% annually. "Intelenet was facing a business gap. We had to refuse business to clients who wanted us to handle their front office along with back office. We didn't have the capability on the ground in those markets. We didn't have people in the UK and US and it needed considerable investment," says Kumar in his first interaction with media post the sell-off. In Mumbai, Blackstone, that held 66% in Intelenet, was looking for an exit option as its year five-year term was nearing expiry.
Publication : Times of India
TAGS : acquisiton  serco  intelenet  bpo  


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