Sberbank has completed a deal to acquire Intercomp, Russia’s leading business process outsourcing (BPO) company.
The bank purchased a 100% stake in the company from a group of investors headed by Elbrus Capital. Financial details were not disclosed.
Intercomp’s current client base consists of 800 large and medium companies operating in 30 different industries as well as Russian state agencies. The firm’s principle focus is in payroll, financial and HR outsourcing.
Sberbank says the acquisition will enable it to provide a fully-rounded combination of banking and software-as-a-service based products to business entities.
First deputy chairman of the executive board of Sberbank Lev Khasis says: “Sberbank has carried out a number of significant technological and organisational transformations of its support functions and accumulated deep experience in building client service processes that are similar in size to those offered by global service providers. The combination of the bank’s unique experience and the expertise of Intercomp, a leading HR and financial outsourcer, will allow us to enhance the Sberbank ecosystem’s client offering.”
He says the bank plans to upscale the business by entering new sectors, such as micro-sized and small business, and also by boosting sales through bank channels and broadening the product line.