In a regulatory filing made after trading hours on Monday (September 23), the RP-Sanjiv Goenka Group company said that its wholly owned subsidiary Firstsource Solutions UK (FSL UK) has executed a share purchase agreement (SPA) with the shareholders of Ascensos, UK, for acquisition of 100% ownership in Ascensos. Ascensos is a provider of BPM services for the retail, consumer, and e-commerce verticals. It has presence in UK, South Africa, Romania and Trinidad. For 2023, the company had recorded a consolidated turnover of GBP 64.1 million. FSL UK has acquired 100% stake in Ascensos for a cash consideration of GBP 42 million, including upfront payment and earnouts. Offering details about the objects and effects of acquisition, Firstsource stated that this acquisition would add strategically important vertical of retail to our existing domain strengths in BFS, CMT, healthcare, and energy and utilities. It would expand our nearshore delivery presence with addition of Ascensos' scaled presence in South Africa, Romania and Trinidad & Tobago and strengthen the company's multi-lingual capabilities for CX services. It would provide the company with the potential to provide services to Ascensos' existing customer base from our existing offshore locations in India and Philippines. Firstsource further informed that Ascensos will operate as a separate business unit within Firstsource, keeping its existing brand and maintaining its Scottish HQ 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. Dr. Sanjiv Goenka, chairman - RPSG Group and Firstsource, commented: 'This acquisition is aligned with the strategic capabilities Firstsource has been pursuing toward growth and expansion. 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. 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.' Firstsource Solutions is a global provider of business process management (BPM) services and an RP-Sanjiv Goenka Group company. The company's consolidated net profit increased 7.3% to Rs 135.25 crore on 16.8% rise in net sales to Rs 1,783.87 crore in Q1 FY25 over Q1 FY24. Powered by Capital Market - Live

Firstsource Solutions has acquired Ascensos, a leading UK-headquartered customer experience outsourcing partner for retail and eCommerce businesses. Dr. Sanjiv Goenka, Chairman - RPSG Group and Firstsource, commented, 'This acquisition is aligned with the strategic capabilities Firstsource has been pursuing toward growth and expansion. 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. 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.' Ascensos will operate as a separate business unit within Firstsource, keeping its existing brand and maintaining its Scottish HQ 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. Retail and eCommerce brands have led the way in CX innovation. 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.Powered by Capital Market - Live

The company will be headquartered in Victoria, Melbourne, creating over 400 new local jobs over the next five years. The said operations will help to grow the state's digital capabilities, bringing new proprietary technology and driving more research, innovation, and growth in the state's digital ecosystem. The company plans to partner with Victorian education institutions to set up an innovation lab focused on AI, engineering, robotics, and digital experimentation. Sanjiv Goenka, Chairman of RPSG Group and Firstsource, said, 'Expanding our operations into Australia marks a significant milestone in Firstsource's global growth strategy. We see this as an important opportunity to leverage not just the immense opportunities the country presents, but also the outstanding support provided by the government in ease of doing business and building a stronger local economy. We are delighted by the support and partnership provided by the Victorian Government toward setting up our operations and look forward to contributing meaningfully to the growth and success of both our business and the local economy.' Jacinta Allan, Premier of Victoria, commented, 'Securing Firstsource's Australia and New Zealand headquarters will create hundreds of jobs and boost our thriving digital innovation ecosystem. Melbourne is Australia's leading tech city ' it's no surprise that global leaders are continuing to invest in Victoria.' Firstsource Solutions is a global provider of business process management (BPM) services and an RP-Sanjiv Goenka Group company. The company's consolidated net profit increased 7.3% to Rs 135.25 crore on 16.8% rise in net sales to Rs 1,783.87 crore in Q1 FY25 over Q1 FY24.Powered by Capital Market - Live

Firstsource Solutions announced its operations in Australia and New Zealand. The company will be headquartered in Victoria, Melbourne, creating over 400 new local jobs over the next five years. Today, Firstsource's Chairman Dr. Sanjiv Goenka, COO, Sohit Brahmawar, and ANZ Country Head Gagan Vohra met Victorian Premier Jacinta Allan in Delhi to discuss the mutual support for establishing Firstsource's headquarters in Melbourne and helping grow the state's digital capabilities, bringing new proprietary technology and driving more research, innovation, and growth in the state's digital ecosystem. Firstsource plans to partner with Victorian education institutions to set up an innovation lab focused on AI, engineering, robotics, and digital experimentation.Powered by Capital Market - Live

Using the use of Microsoft Azure OpenAI Service, the firm stated that it aims to enhance its service offerings, driving innovation and efficiency across various industries. Under this collaboration, Firstsource will utilize Azure OpenAI Service, Azure AI Search, and Azure AI Language to provide generative AI powered solutions and business platforms that unlock the full potential of enterprise data. These solutions will offer a multi-modal, multi-channel search experience, significantly improving effectiveness and personalization for businesses, it added. Ritesh Idnani, managing director and chief executive officer of Firstsource Solutions, said, The collaboration with Microsoft enables us to offer clients the best of both worlds, where the combined value far exceeds the sum of its parts. Our goal is to leverage this network to solve complex challenges for our customers, delivering solutions that are truly cutting-edge and transformative. Sangita Singh, general manager, ITES of Microsoft India and South Asia, said, By integrating Microsoft Azure AI with Firstsource's AI-powered solutions, enterprises can harness generative AI to enhance data accessibility and productivity. This collaboration will drive innovation and deliver more effective, personalised experiences, ultimately boosting employee satisfaction. This collaboration follows the launch of Firstsource relAI, an AI-focused digital transformation suite of platforms, solutions, and offerings, reinforcing Firstsource's commitment to driving deep-tech transformations. Firstsource Solutions is a global provider of business process management (BPM) services and an RP-Sanjiv Goenka Group company. The company's consolidated net profit increased 7.3% to Rs 135.25 crore on 16.8% rise in net sales to Rs 1,783.87 crore in Q1 FY25 over Q1 FY24. The scrip added 0.81% to currently trade at Rs 309.85 on the BSE. Powered by Capital Market - Live

Firstsource Solutions announced a collaboration with Microsoft to deliver cutting-edge digital transformation services to clients worldwide. Using the power of Microsoft Azure OpenAI Service, Firstsource aims to enhance its service offerings, driving innovation and efficiency across various industries. Under this new initiative, Firstsource will utilize Azure OpenAI Service, Azure AI Search, and Azure AI Language to provide generative AI powered solutions and business platforms that unlock the full potential of enterprise data. These solutions will offer a multi-modal, multi-channel search experience, significantly improving effectiveness and personalization for businessesPowered by Capital Market - Live

Jubilant Pharmova Ltd, PCBL Ltd, Sunflag Iron & Steel Company Ltd and Adani Energy Solutions Ltd are among the other gainers in the BSE's 'A' group today, 01 August 2024.Firstsource Solutions Ltd spiked 10.25% to Rs 301.3 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 12.67 lakh shares were traded on the counter so far as against the average daily volumes of 2.66 lakh shares in the past one month. Jubilant Pharmova Ltd surged 9.37% to Rs 846.6. The stock was the second biggest gainer in 'A' group. On the BSE, 1.69 lakh shares were traded on the counter so far as against the average daily volumes of 90476 shares in the past one month. PCBL Ltd soared 7.68% to Rs 350. The stock was the third biggest gainer in 'A' group. On the BSE, 7.36 lakh shares were traded on the counter so far as against the average daily volumes of 3.51 lakh shares in the past one month. Sunflag Iron & Steel Company Ltd rose 7.54% to Rs 271.15. The stock was the fourth biggest gainer in 'A' group. On the BSE, 75621 shares were traded on the counter so far as against the average daily volumes of 82303 shares in the past one month. Adani Energy Solutions Ltd added 6.97% to Rs 1216.85. The stock was the fifth biggest gainer in 'A' group. On the BSE, 4.28 lakh shares were traded on the counter so far as against the average daily volumes of 1.61 lakh shares in the past one month. Powered by Capital Market - Live