sale of excelior, page-2

http://articles.timesofindia.indiatimes.com/2011-10-05/outsourcing/30246291_1_intelenet-global-serco-group-sparsh-bpo

Intelenet in talks to buy Excelior
N Shivapriya, ET Bureau Oct 5, 2011, 07.33PM IST
Tags:
Serco|Intelenet Global|Excelior|BPO

(Intelnet in talks to buy Excelior)
MUMBAI: Back office service provider Intelenet Global is in discussions to acquire Excelior, a business process outsourcing firm based out of Australia and servicing local companies there, said people with knowledge of the talks.

Intelenet, which is now owned by the UK-based Serco Group, is learnt to have been pursuing the acquisition from before its ownership changed. Intelenet was recently owned by Blackstone. In June this year, the PE firm and other shareholders exited their stake in a blockbuster deal of over $ 600 million, selling out to Serco.

"Negotiations were almost through, when Intelenet itself got sold. Now the management team has resumed discussions to acquire Excelior, under Serco," said a person aware of the development. Excelior employs about 2,000 people across four centres in Australia and provides consulting and BPO to government entities and private firms.

"Intelenet does not comment on market speculation," the company said in response to ET mail asking for a confirmation.

Buying Excelior will allow Serco to expand its presence outside its home country. "Excelior is the Sparsh of Australia," said the person quoted earlier, referring to Sparsh BPO, the domestic Indian BPO firm Intelenet acquired several years ago and grew to around Rs 400 crore in revenues.