Firstsource Solutions' Arm Acquires UK-Based Ascensos; Shares Jump 7%

MT Newswires Live

Sep 24, 2024

Firstsource Solutions UK, a wholly-owned subsidiary of Firstsource Solutions (NSE:FSL, BOM:532809), has acquired a 100% stake in UK-based Ascensos for 42 million pound sterling including upfront payments and payouts, according to a Monday filing to the stock exchanges.

Ascensos provides business process management (BPM) services for the retail, consumer, and e-commerce verticals in the UK, South Africa, Romania, and Trinidad.

On completion of the transaction, Ascensos has become a step-down subsidiary of the company but it will operate as a separate business unit within Firstsource, keeping its existing brand.

Shares of the company were up nearly 7% in recent trade.

Price (INR): â¹335.95, Change: â¹+21, Percent Change: +6.77%

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