Firstsource Solutions announces acquisition of American Recovery Services Inc
Global provider of business process management (BPM) services and an RP-Sanjiv Goenka Group company- Firstsource Solutions Limited has informed the exchange that it has entered into an agreement to acquire American Recovery Services, Inc. (ARSI), a nationwide legal collections network headquartered in Southern California. The acquisition enhances the company’s leadership in consumer debt management services by adding legal stage collections capabilities and will help the company expand their ‘Digital First, Digital Now’ strategy.
ASRI has provided legal collection services for over three decades through its nationwide partner network and in-house experts. By adding ASRI’s deep domain expertise to its portfolio of services, Firstsource will now be able to help clients navigate the more complex legal collections process, all from under one roof.
Firstsource has earned its spot as a leader in providing high quality and responsible collection services in the early and late-stage receivables management business. The debt collections market is a significant part of the consumer credit ecosystem with evolving regulatory demands.
To quote an excerpt from the company’s filing with the exchange, “Both ARSI and Firstsource are pioneers in driving best-in-class debt recovery compliance, using advanced technology and emphasizing a positive consumer experience. These shared tenets add to the symmetry of this combination.”
Firstsource Solutions Limited is a leading provider of transformational solutions and services spanning the customer lifecycle across banking and financial services, healthcare, communications, media and technology and other industries. With an established presence in the US, the UK, India and the Philippines, Firstsource acts as a trusted growth partner for over 150 leading global brands, including several Fortune 500 and FTSE 100 companies.
The scrip of Firstsource Solutions Limited opened at Rs 183.90 on BSE and touched an intra-day high of Rs 186.30, climbing 2.25 per cent.