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NEW DELHI: UK-based services company Serco Group on Thursday acquired 60 per cent stake in the domestic BPO firm Infovision for Rs 99.7 cr (13.3 mllion pound) in an all-cash deal.

The joint entity, which would be known as Serco BPO, also plans to hire 5,000 people by the end of next year. Currently, Serco has a headcount of 50,000 and Infovision has 10,000 people working on their respective rolls.

Serco had valued Infovision at Rs 2 bn (27.2 million pound), including debt. Serco, which gets 90 per cent of its business from public services, said it would launch its brand in the Indian BPO market and then move onto the public services market throu gh acquisition. Serco has also agreed to buy the remaining 40 per cent of Infovision in two tranches over the next two years. - PTI

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