Unite Arab Emirates, 29 December 2011 - Serco announced today that, to meet the increasing demand for complex facilities management services, it has acquired JBI Properties Services Company LLC (JBI).

Prior to the sale, JBI, which specialises in integrated facilities management services, was a wholly owned subsidiary of Mubadala Development Company PJSC (Mubadala).

The acquisition will build on Serco's existing Facilities Management capabilities in the UAE which include the successful operation of Dubai Metro stations and depots, the UAE University in Al Ain and New York University currently being built on Saadiyat Island in Abu Dhabi.

JBI has over 130 staff members located across various sites in Abu Dhabi. The company manages iconic, grade A mixed use commercial property and educational facilities. The customer portfolio includes numerous Government agencies in the Emirate of Abu Dhabi, and sites include Zayed University, Paris Sorbonne University, New York University and Sowwah Square. Services provided include estate management, IT services, waste management, procurement, mechanical and electrical maintenance, help desk and life cycle asset management.

Zafar Raja, CEO of Serco Middle East said: "We are delighted to strengthen our FM capabilities, extend our local expertise to new markets across the Middle East and deepen our long-standing business relationship with Mubadala Development Company."

"We have had a long history of working with governments and the private sector similar to JBI's existing client base, and we can also bring to them Serco's global knowledge and proven management capability," added Mr. Raja.

-Ends-  

About Serco
Serco is a FTSE 100 international service company, which combines commercial know-how with a deep public service ethos. We improve services by managing people, processes, technology and assets more effectively. Our strategic advice comes from hands-on experience. We advise policy makers, design innovative solutions, integrate systems and - most of all - deliver front-line services that make a positive difference to customers and communities.

Serco supports governments, agencies and companies who seek a trusted partner with a solid track record of providing assured service excellence. Our people offer operational, management and consulting expertise in the aviation, BPO, defence, education, environmental services, facilities management, health, home affairs, information and communications technology, knowledge services, local government, science and nuclear, transport, welfare to work and the commercial sectors.

In the Middle East, Serco has been delivering aviation services and technology solutions to governments and agencies as well as commercial enterprises for more than 60 years; help carry more than 36m passengers each year on Dubai Metro and provide an excellent rail experience on Palm Jumeirah Monorail.

More information can be found at www.serco.com

About Mubadala
Mubadala Development Company (Mubadala) is a catalyst for the economic diversification of Abu Dhabi. Established and owned by the Government of Abu Dhabi, the company's strategy is built on the creation of partnerships and on long-term investments that deliver strong financial returns and tangible social benefits for the Emirate of Abu Dhabi and that contribute to the growth and diversification of its economy.

Mubadala brings together and manages a multi-billion dollar portfolio of local, regional and international investments and partners with leading global organizations to operate businesses across a wide range of industry sectors. These include semiconductor technology, aerospace, energy, healthcare, information communications and technology, infrastructure, real estate and hospitality, and services ventures. For more information about Mubadala, please visit http://www.mubadala.ae.

For further information please contact Serco:
hala.azzam@serco.ae

For more information, please contact:
Paul Slinger - Mubadala Group Communications
T: 050 612 9846
E: media@mubadala.ae

© Press Release 2011