Blackstone to Buy Serco's India-Based BPO Business for £250M
September 17, 2015
Blackstone has agreed to acquire the majority of Serco Group's offshore private sector BPO operations for a consideration of £250 million, representing one of the firm's largest deals in India. The BPO business provides a range of middle- and back-office services for international organizations predominantly across the financial services, insurance, telecoms, travel and healthcare sectors; it is expected to generate revenues of £235 million this year. Upon closing, which is expected in the coming months, the company will be rebranded as Intelenet Global Services.