Secro makes Expensive Purchase

Secro makes Expensive PurchaseThe Indian outsourcing company, Intelenet has been bought by Britain’s Secro in order to drive a successful, overseas market. Intelenet will help support Secro’s ambitions to be the leading global service company.

Intelenet was founded in 2001 in a joint effort with Tata Consultancy Services and HDFC. The business was looking at promising results and revenues for the year up till March 31, 2011, Intelenet was bringing in 170 million pounds.

Global Chief Executive of Intelenet, Susir Kumar, states: “Becoming a part of Secro will propel us to our next phase of growth by helping us to address a wider market and to provide more end-to-end solutions”.

Serco is eager to have Intelenet working with them and believe that their establishment will lead the company to a promising future. However, buying Intelenet was far from cheap. Seymour Pierce analyst Kevin Lapwood states that Secro will not be seeing any enhanced earnings until 2013 at the earliest. Either way, both companies seem to be quite please with the acquisition.