Firstsource acquires Ascensos for $56Mn, expanding retail CX capabilities
LONDON, UNITED KINGDOM — Business process management (BPM) company Firstsource Solutions Limited has acquired UK-based customer experience outsourcing partner Ascensos for £42 million ($55.9 million).
The strategic move aims to enhance Firstsource’s capabilities in the retail vertical while strengthening its nearshore and multi-lingual services.
Synergizing expertise for enhanced customer experience
Firstsource, a part of the RP-Sanjiv Goenka Group, will integrate Ascensos as a separate business unit. This arrangement allows Ascensos to maintain its brand identity and Scottish headquarters while leveraging Firstsource’s technological prowess and global reach.
“The depth of Ascensos expertise in the retail and eCommerce sectors, now combined with the strength of Firstsource technology and expansive global capabilities, will only accelerate our transformation programs for existing clients while improving our operational experience for our customer-facing colleagues,” said John Devlin, CEO of Ascensos.
Expanding global footprint and service offerings
The acquisition strategically positions Firstsource to tap into the $28 billion global retail and CPG BPO market. Ascensos brings to the table its nearshore delivery capabilities in Romania, South Africa, and Trinidad & Tobago, complementing Firstsource’s existing operations in the US, UK, India, Mexico, Australia, and the Philippines.
“We’re thrilled about the potential that Ascensos’s extensive retail knowledge, Firstsource’s advanced technology, and the RPSG Group’s deep expertise bring together,” said Dr. Sanjiv Goenka, Chairman of the RPSG Group and Firstsource.
“Ascensos opens a host of new growth opportunities for us… This collaboration will benefit our current clients and enable us to pursue new opportunities in the thriving retail sector.”
Firstsource clients will benefit from enhanced multilingual capabilities and expanded execution opportunities. Meanwhile, Ascensos clients gain access to Firstsource’s advanced technological capabilities in artificial intelligence, analytics, and automation.
The combined entity is poised to deliver innovative customer experience solutions, particularly in the retail and eCommerce sectors.
By leveraging their complementary strengths, Firstsource and Ascensos aim to simplify complex customer journeys and seamlessly connect front, middle, and back-office operations across digital, analog, and physical experiences.
