Firstsource stock jumped more than 2% in morning trade after the company announced the acquisition of Ascensos Limited.
The deal, which was executed through Firstsource Solutions UK Limited (FSL UK), a wholly-owned subsidiary of Firstsource Solutions, is valued at GBP 42 million, or about Rs 467.12 crore, including upfront payments and earnouts.
The acquisition intends to strengthen Firstsource’s retail capabilities and increase its nearshore delivery footprint. Furthermore, the integration of Ascensos is intended to improve Firstsource’s multilingual capabilities and provide potential service expansions to Ascensos’ current customer base from offshore sites in India and the Philippines.
As of 9:30 am, Firstsource shares were trading 2.61% higher at Rs 322.85 on the NSE.
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