Serco, a UK based BPO firm, has announced the completion of the acquisition of Excelior Pty Ltd, an Australian Business Process Outsourcing (BPO) company.
The sale price of $8.2 mn AUD is to be paid by the English company on completion of the transaction, with a further earn-out payment of $5.0 million AUD payable over the next two years, subject to achieving set revenue targets, said a company statement.
''The company would be managed and run as part of the Serco Australia business. It will also leverage SercoÃ¢â‚¬â„¢s global capability by forming part of the wider Serco Global BPO capability'' said David Campbell, CEO, Serco Asia Pacific.
The acquisition will build SercoÃ¢â‚¬â„¢s BPO capabilities in Australia including the operation of transport information and integrated transport management systems in Queensland, New South Wales, Western Australia, and operating the traffic safety programme detection and processing systems in Victoria.
The Excelior business currently has 900 employees and they will be joining Serco on their existing terms and conditions.