Business outsourcing services group Serco is to establish its brand in India after buying a controlling stake in InfoVision.

Business outsourcing services group Serco is to establish its brand in India after buying a controlling stake in InfoVision.

The Hampshire-based group has spent £13.3 million in cash for 60 per cent of the business, which includes HSBC, American Express and ABN Amro as its clients. The deal values the company at £27.2 million.

The agreement gives Serco the chance to buy InfoVision’s remaining shares in the next two years, with the price depending on the company’s financial performance.

Serco chief executive Christopher Hyman said the deal promises excellent opportunities for the company due to the strength of India’s economy. “The Indian domestic markets are growing fast and over the longer term this acquisition positions us well to provide broader services to the public.”

The shareholding was sold by InfoVision’s founders Aditya and Malina Gupta. Aditya added that becoming part of Serco would sustain the company’s growth and enable it to enter new markets.

InfoVision is the third-largest business process outsourcing company serving the Indian domestic market with more than 10,000 employees in seven offices. It provides customer services, database management and back office services. In the year to April 2008, InfoVision recorded a £23.5 million turnover.