Serco pays £385m to buy Intelenet

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The support-services firm Serco is to acquire the Mumbai-based outsourcing firm Intelenet – whose customers include Barclays, State Bank of India, Travelport and Aircel – for up to £385m.

Intelenet, which employs 32,000 people, has an order book of about £500m for the next five years and generates three-quarters of its revenues from international customers.

The 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.