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Firstsource Solutions UK Acquires Ascensos For £42 Million

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Synopsis:

Firstsource Solutions UK has acquired Ascensos for £42 million. This acquisition boosts its customer experience outsourcing services in the retail sector, leveraging Ascensos' expertise and expanding Firstsource’s capabilities in the UK.

Firstsource Solutions UK news today

Firstsource Solutions UK Ltd, a subsidiary of Firstsource Solutions Ltd, has announced the acquisition of Ascensos, a leading UK-based customer experience outsourcing provider, for £42 million. This strategic acquisition strengthens Firstsource Solutions’ position in the retail and e-commerce sectors by integrating Ascensos' expertise with its global business process management services.

FIRSTSOURCE SOLU. LTD.

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307.35-4.94 (-1.58 %)

Updated - 03 October 2024
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Expanding presence in the retail sector

With the acquisition, Ascensos will operate as a separate business unit within Firstsource Solutions UK, continuing to serve its clients under the same brand name and from its headquarters in Scotland. The acquisition combines Ascensos' deep knowledge of the retail industry and Firstsource’s technological capabilities to provide enhanced customer experience solutions.

Firstsource Solutions has long been known for its leadership in consumer markets and customer experience management. This acquisition enhances its reach in the retail and e-commerce industries by combining Ascensos' nearshore delivery model with Firstsource’s existing global delivery framework.

Opportunities for digital innovation

This acquisition comes at a time when digital transformation is increasingly crucial for businesses. By leveraging Ascensos’ extensive retail customer experience, Firstsource can help brands embrace the next wave of digital innovation. The combined expertise of the two companies will enable the seamless integration of front, middle, and back-office operations, optimising customer journeys across digital, analogue, and physical touchpoints.

The acquisition is expected to create new opportunities for growth in the $28 billion global retail and CPG BPO market. Firstsource will now have a stronger presence in this expanding market, delivering services that cater to the evolving needs of retail businesses.

Firstsource Solutions UK share price performance

Following the announcement of this acquisition, shares of Firstsource Solutions Ltd rose by 1.22%, closing at ₹314.90 on the BSE. Investors have shown confidence in this strategic move, recognising its potential to enhance the company’s market position and operational capabilities.

This acquisition marks a significant milestone for Firstsource Solutions UK, enabling it to expand its customer experience outsourcing services in the retail and e-commerce sectors while capitalising on Ascensos’ expertise in the field.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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