Serco Group Plc. has acquired a 60% stake in InfoVision Group for Rs.97 crore (£13.3m) to enter domestic Indian business process outsourcing (BPO) market. The acquisition will help InfoVision develop its BPO business further while Serco will be able to expand its customer base and achieve a leading position in the India markets.
With the enterprise value of the company being valued at Rs 200 crore including its outstanding net debt of around Rs 37.1 crore (£5.1m), Serco has agreed to acquire its remaining 40% stake as well in two tranches over the next two years. The value of the remaining stake will depend on InfoVision's financial performance in that period.
InfoVision, founded by Aditya and Malini Gupta, claims to be the largest independent domestic BPO business in India. The 16 year old company provides customer services, database management and back office services. With 10,000 employees working in InfoVision, the firm caters to clients like GE, Talk Talk, HSBC, American Express and ABN Amro acrossin 17 cities in India along with catering to clients in U.K, U.S, New Zealand, Singapore and Australia.
While Serco offers operational, management and consulting expertise in the aviation, defence, education, health, home affairs, local government, science, technology, transport and the commercial sectors, InfoVision offers solutions in running call centres, loyalty and fulfillment programs, database management and back office support services for domestic and international customers