Business Update23 Sept 2024, 10:13 pm
Firstsource Solutions Acquires Ascensos for GBP 42 Million
AI Summary
Firstsource Solutions Ltd., a leading provider of BPM services, has announced the acquisition of 100% ownership in Ascensos Limited, a UK-based BPM service provider for the retail, consumer, and e-commerce verticals. The acquisition was made through Firstsource's wholly owned subsidiary, Firstsource Solutions UK Limited, for a consideration of GBP 42 million, including upfront payment & earnouts. The transaction was simultaneously signed and completed, making Ascensos a step-down subsidiary of Firstsource Solutions Ltd.
Key Highlights
- Acquisition of Ascensos Limited, a UK-based BPM service provider.
- Consideration of GBP 42 million, including upfront payment & earnouts.
- Expansion of nearshore delivery presence with addition of Ascensos' scaled presence in South Africa, Romania and Trinidad & Tobago.
- Strengthening of multi-lingual capabilities for CX services.
- Potential to provide services to Ascensos' existing customer base from Firstsource's existing offshore locations in India and Philippines.