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Serco gets MoD nod for business services deal
March 1, 2012 / 12:36 PM / 6 years ago

Serco gets MoD nod for business services deal

LONDON, March 1 (Reuters) - British support services group Serco has been named preferred bidder for a contract to run services including civilian human resources and scurity vetting for the Ministry of Defence, the British government said on Thursday.

The four-year Defence Business Services (DBS) deal is worth around 36 million pounds ($57.51 million) and includes an option to extend it for a further year, Britain’s defence secretary Philip Hammond said in a statement.

The DBS department was created in July last year to oversee corporate services and, subject to a 10 day standstill period, will now be run by Serco, which has been appointed to improve efficiencies.

Serco is already heavily involved in defence work, providing services such as engineering and support to Britain’s air force and navy.

Shares in FTSE 100 listed Serco were up 1 percent to 560.25 pence at 1227 GMT on Thursday.

$1 = 0.6260 British pounds Reporting by Neil Maidment; Editing by Rhys Jones

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