Serco, the international service company, on Thursday, announced the launch of its new global business process outsourcing (BPO) division, Global Services, and said it would reach $1 billion revenues in calendar 2012.
Last year, Serco acquired Indian BPO company Intelenet Global Services for 385 million pounds (around Rs.2,770 crore). The new division is one of four business divisions within Serco and is an amalgamation of the companies that deliver business process services globally within Serco, including Intelenet Global Services in India, The Listening Company in the U.K. and Excelior in Australia.
Addressing a press conference, Susir Kumar, Executive Chairman, Global Services, Serco, said, “after acquiring Intelenet, we analysed our competitive position and realised that to achieve scale, we needed a mix of onshore, near-shore and offshore business.”
The Global Services division has a workforce of around 50,000 with over 150 clients across 10 countries. It will focus on five verticals — banking, financial services and insurance (BFSI), travel, hospitality and transportation; healthcare, utility, retail and manufacturing; telecom, technology and online services; and media, education and government.
Mr. Kumar said business was divided equally between private and public sector clients. About 55-60 per cent of revenues was from on-shore and the balance offshore, including India. The Indian off-shore business operates at 18-21 per cent margins while on-shore operating margins are 14-15 per cent.
