Serco

Serco Group plc is a British multinational defence, health, space, justice, migration, customer services, and transport company. It is headquartered in Hook, Hampshire, England. The company operates in continental Europe, the Middle East, the Asia Pacific region, including Australia and Hong Kong, and North America. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The company was founded as RCA Services Limited in 1929, a UK-based division of the Radio Corporation of America. The company began providing technical and engineering services to the British War Office during the Second World War. During the Cold War era, it specialised in the provision of defense systems engineering and facilities management services, including the maintenance of sonar, early warning radar and satellite systems. Following a management buyout, the firm changed to the name Serco ('Services Company') in 1987 and was listed on the London Stock Exchange one year later. The company was restructured during the 1980s, reorientated itself towards services beyond engineering, and expanded its presence globally. Serco has encountered controversy, described by legal services firm Appleby as a "history of problems, failures, fatal errors and overcharging". During 2013, then-chairman Alastair Lyons resigned from the company after it was found that it had overcharged the UK Government for electronically monitoring criminals. Serco underwent a corporate renewal programme during the 2010s, created in collaboration with the United Kingdom government, which overhauled the management of contracts and commercial auditing.