Firstsource Solutions Acquires Ascensos, Share Soars 7.64%

Shares of Firstsource Solutions surged by 7.64 per cent, reaching an intraday high of Rs 338.70 per share on Tuesday. The spike followed the move that Firstsource Solutions UK, a wholly-owned subsidiary of Firstsource Solutions, has acquired Ascensos, a leading global customer experience management firm, for RS 4,69,93,72,221.60.

In a filing with the stock exchange, Firstsource Solutions stated, "Firstsource Solutions UK Limited (FSL UK), a wholly owned subsidiary of the company, has executed a share purchase agreement (SPA) with the shareholders of Ascensos Limited, UK, to acquire 100 per cent ownership in Ascensos for a consideration of RS 4,69,93,72,221.60 , including upfront payment and earnouts."

Ascensos, known for its expertise in delivering exceptional customer service, will operate as a distinct business unit under FSL UK while maintaining its brand identity and headquarters in Scotland. The acquisition is seen as a key step in Firstsource’s growth strategy, enhancing its technological capabilities and retail expertise.

Sanjiv Goenka, Chairman of the RPSG Group and Firstsource, said, "We’re thrilled about the potential that Ascensos’s retail knowledge, combined with Firstsource’s advanced technology and the RPSG Group’s deep expertise, brings together."

Post-acquisition, John Devlin will remain CEO of Ascensos, ensuring business continuity. The integration will leverage the combined strengths of both companies to better serve the retail industry, offering innovative solutions that simplify customer journeys across digital, analog, and physical experiences.

Firstsource highlighted that the deal aligns well with the RPSG Group’s strong retail heritage, which includes brands like Spencer’s and Nature’s Basket. Additionally, Ascensos’ nearshore delivery centres in Romania, South Africa, and Trinidad & Tobago will expand Firstsource’s global delivery network, offering enhanced multilingual support.

Goenka further emphasised the significance of the acquisition, noting that the global retail and consumer packaged goods (CPG) BPO market is valued at $28 billion. "This collaboration opens new growth avenues and reinforces our strategy of delivering differentiated services," he added.

This acquisition marks a significant move for Firstsource as it strengthens its leadership in customer experience (CX), expanding its capabilities in the rapidly evolving retail sector.