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Firstsource Solutions Ltd on Thursday announced the acquisition of BPO unit of ISGN, a full service provider of mortgage technology and services, for an undisclosed sum.
A definitive agreement in this regard has already been entered into with ISGN, it said in a release.
Over 700 employees from ISGN’s BPO division in the United States and India will become a part of Firstsource through this acquisition.
According to Sanjiv Goenka, Chairman, FSL, this strategic acquisition helps Firstsource penetrate into the growing US mortgage BPO market.
It also provides Firstsource with marquee customers, strengthens its Banking, Financial Services and Insurance (BFSI) portfolio and offers significant potential opportunities for cross-selling of services, the company said in a release post its board meet here in the city.
Commenting on the acquisition, Goenka, as per a release issued by the company, said: “The acquisition marks Firstsource’s penetration into the growing US mortgage BPO market. ISGN’s deep knowledge in the mortgage outsourcing space coupled with a set of marquee customers provides us with significant opportunities to cross-sell capabilities and leverage our global relationships.”
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