Athira Sethu
Kochi, 24 September
RP Sanjiv Goenka Group’s company, Firstsource Solutions, has acquired Ascensos, a UK-based company that offers customer experience outsourcing solutions to the retail and eCommerce sectors.
The deal amount is estimated to be £42 million or $55.9 million. This investment will help Firstsource strengthen its position in the retail sector.
Ascensos would work as an independent business group of Firstsource and enjoy the right to carry its brand identity and headquarters in Scotland. Thus, both Firstsource and Ascensos would utilize their combined technological capacities and expertise towards mutual enrichment to service the retail industry more effectively.
The acquisition will help Firstsource to grow strategically in the retail vertical by enhancing its capabilities towards nearshore and multilingual operations. Firstsource Solutions UK Limited has signed a share purchase agreement wherein 100% of the business for Ascensos, a Scotland-based BPO firm, will be fully acquired and form an FSL UK subsidiary. John Devlin would be continuing as CEO, ensuring leadership continuity.
Sanjiv Goenka, Chairman of RPSG Group and Firstsource, said, “This acquisition lays upon a deep understanding of the respective industries and strong, tailored technology, which opens up new avenues for growth.”.
The share price of Firstsource surged on Tuesday after investors gave a thumbs up to the deal. It closed 6.15% up at Rs 334 in NSE.
