Serco Group (LSE:SRP) PLC said it acquired ORS, an immigration services provider in Europe, for up to CHF44mln (£39mln).
Swiss-based ORS provides immigration services to public sector customers in Switzerland, Germany, Austria and Italy and generated CHF110mln in revenue in 2021.
“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,” said Serco chief executive Rupert Soames.
“The acquisition will also support our objective of strengthening our European business, roughly doubling its size and increasing the range of services provided."
Serco recently upgraded its profit guidance for 2022 partly as a result of increased demand for its immigration services in Australia and the UK.
READ: Serco raises full-year profit forecast again after better-than-expected first half