Firstsource Solutions today has announced the acquisition of Ascensos Limited, a UK-based provider of BPM services for the retail, consumer, and e-commerce sectors. The deal, executed through Firstsource Solutions UK Limited (FSL UK), a wholly-owned subsidiary of Firstsource Solutions, is valued at GBP 42 million or nearly Rs 467.12 crore inclusive of upfront payments and earnouts.
Ascensos Limited, founded in 2013, has a significant presence in the UK, South Africa, Romania, and Trinidad & Tobago. With an operating turnover of GBP 64.1 million in 2023, Ascensos brings a strong portfolio and strategic assets to Firstsource.
The acquisition aims to bolster Firstsource’s capabilities in the retail sector and expand its nearshore delivery presence. Additionally, the integration of Ascensos is expected to enhance Firstsource’s multi-lingual capabilities and offer potential service expansions to Ascensos’ existing customer base from offshore locations in India and the Philippines.
The transaction was completed simultaneously with the signing of the share purchase agreement, making Ascensos a step-down subsidiary of Firstsource Solutions Limited. The acquisition does not involve any related party transactions and has no governmental or regulatory approvals pending.
