Firstsource Solutions, a business process services (BPS) company and part of the Rs 90,000 crore RP-Sanjiv Goenka Group, said it has acquired UK-based Ascensos, a customer experience outsourcing partner for retail and eCommerce businesses, for 42 million pounds, including upfront payment and earnouts.
Founded in 2013, Ascensos provides BPM services for the retail, consumer, and e-commerce verticals. It operates in UK, South Africa, Romania and Trinidad.
Ascensos will operate as a separate business unit within Firstsource, keeping its existing brand and maintaining its Scottish headquarters while using the combined company’s technological capabilities and expert employees to serve the retail industry better. John Devlin will remain as CEO, guaranteeing continuity for Ascensos clients, according to a press release on September 23.
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Commenting on deal, Sanjiv Goenka, Chairman - RPSG Group and Firstsource, said" "Retail and CPG BPO Market is a $28 billion market globally. Ascensos opens a host of new growth opportunities for us that are underpinned by our strategy of delivering differentiated services built on deep industry knowledge and tailored technology. This collaboration will benefit our current clients and enable us to pursue new opportunities in the thriving retail sector.”
"With this acquisition, Firstsource capitalizes on its CX leadership, making inroads into the retail sector and helping brands embrace the next wave of digital innovation by simplifying complex customer journeys and seamlessly connecting front, middle, and back-office operations across digital, analog, and physical experiences," the statement added.
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