1st Sep 2022 10:44
(Alliance News) - Serco Group PLC on Thursday said it bought Swiss-based immigration services company ORS Group for up to CHF44 million, around GBP39 million.
The FTSE 250-listed outsourcer said ORS employs 2,000 people, offering immigration services in Switzerland, Germany, Austria and Italy.
The addition of ORS will add scale to Serco's European operations, it said, and bolster its position in immigration services, which is already one of its core sectors.
Serco Chief Executive Rupert Soames said: "We have a deep expertise in providing immigration services with care and respect. This strategic acquisition will enable us to work with and support government customers across Europe who have a continuous and growing requirement for immigration and asylum seeker support services."
For 2021, ORS posted revenue of CHF110.0 million.
Shares were down 1.5% at 172.40 pence each on Thursday morning in London.
By Xindi Wei; [email protected]
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