Acquisition of ORSSource: RNS
Acquisition of ORS, a leading European immigration services company
1 September 2022
Serco, the international supplier of services to governments, announces that it has acquired ORS, a specialist provider of immigration services to public sector customers in Switzerland, Germany, Austria and Italy.
The business is to be acquired for a total consideration of up to CHF44m (£39m). ORS's revenue for the year ended 31 December 2021 was CHF110m (£97m).
ORS is a Swiss-based provider of immigration services in several European countries, with a 30-year track record across the asylum and immigration process from initial country reception to orientation, care, community integration and repatriation. Its 2,000 employees and experienced management team will both add scale to our European operations and provide reach and capability to Serco's position in immigration services, which is already one of our core sectors with large operations in the UK and Australia.
Commenting on the acquisition, Rupert Soames, Serco Group Chief Executive, 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. The acquisition will also support our objective of strengthening our European business, roughly doubling its size and increasing the range of services provided."
NB: The consideration and revenue above are converted to pounds using the GBP:CHF exchange rate as at 31 August of 1.135.
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Serco is a leading provider of public services. Our customers are governments or others operating in the public sector. We gain scale, expertise and diversification by operating internationally across five sectors and four geographies: Defence, Justice & Immigration, Transport, Health and Citizen Services, delivered in UK & Europe, North America, Asia Pacific and the Middle East.
More information can be found at www.serco.com
LEI code: 549300PT2CIHYN5GWJ21