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An update from Serco Group plc ( (GB:SRP) ) is now available.
Serco Group plc has announced the acquisition of Northrop Grumman’s mission training and satellite ground network communications software business for $327 million. This strategic move is set to significantly enhance Serco’s presence in the US defense market, doubling its revenue and more than tripling its profit in North America. The acquisition will expand Serco’s capabilities in technology-enabled military training and satellite communications, aligning with the US military’s focus on improving warfighting standards. This transaction is expected to increase Serco’s exposure to the defense sector, which will become its largest revenue segment, and will boost its growth potential both in North America and internationally.
More about Serco Group plc
Serco Group plc is a global service company that specializes in providing innovative solutions to governments worldwide. With a workforce of over 50,000 employees, the company operates across various sectors, including defense, space, migration, justice, healthcare, mobility, and customer services. Its core capabilities encompass service design and advisory, resourcing, complex programme management, systems integration, case management, engineering, and asset and facilities management.
YTD Price Performance: -0.46%
Average Trading Volume: 3,659,014
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £1.53B
Learn more about SRP stock on TipRanks’ Stock Analysis page.
