Serco, the UK-based services company, has acquired a majority stake in business process outsourcing arm of Mena Business Services in Saudi Arabia. The financial details of the acquisition were not revealed.
Mena Business Services is a Dubai-registered company providing outsourcing services across West Asia.
The Saudi Arabian business, which has 150 employees, is based in Al Khobar near Dammam. It provides IT and outsourcing services to Saudi Aramco (Arabian Refining & Marketing Company), the world’s largest petroleum company.
“This acquisition is a key catalyst for Serco Global Services to enter the emerging Saudi Arabian market. Mena Business Services aligns with our vision of providing high quality services to blue chip companies around the world and it brings with it a very talented workforce and deep customer partnerships,” Serco Global Services Executive Chairman Susir Kumar said.
Serco Global Services is the BPO arm of the group.
West Asian BPO market
According to industry data, the West Asian BPO market is estimated at £1.75 billion and growing at about 17 per cent. The United Arab Emirates and Saudi Arabia are the two largest BPO markets in the West Asian region and together represent three-quarters of the market.
“The Middle East & Africa region is a key market for Serco’s BPO business. With a presence in the UAE, South Africa and now Saudi Arabia, we have established a strong foothold in the region. We look forward to bringing our best-of-breed services such as customer service, marketing, finance and accounting and other backoffice shared services to the Saudi market and in the process of hiring and upskilling the local Saudi talent pool and engaging in long-term relationships with Saudi corporations,” Chief Executive Officer of Serco Global Services (Africa, Middle East, Asia and Australia) Bhupender Singh said.
rajesh.kurup@thehindu.co.in