Firstsource Expands Retail Reach with Ascensos Acquisition

On September 23, 2024, Firstsource Solutions Limited, a global provider of specialised Business Process Services (BPS) and part of the RP-Sanjiv Goenka Group, announced its acquisition of Ascensos. Ascensos is a UK-based company specializing in customer experience outsourcing for retail and eCommerce sectors.

Dr Sanjiv Goenka, Chairman of 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.”

He further added, “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 continue to operate independently within Firstsource, keeping its brand and headquarters in Scotland. It will leverage the combined technology and expertise of both companies to better serve the retail sector. John Devlin will stay on as CEO, ensuring stability for Ascensos’ clients.

Retail and eCommerce brands have been at the forefront of customer experience (CX) innovation. With this acquisition, Firstsource aims to strengthen its position in the retail sector by simplifying complex customer interactions and seamlessly integrating digital, analogue, and in-person operations.

Ascensos’ strong knowledge of the retail industry complements Firstsource’s expertise in consumer markets and aligns well with the RPSG Group’s retail background, which includes successful businesses like Spencer’s, Nature’s Basket, and Quest. 

Additionally, Ascensos’ nearshore delivery centres in Romania, South Africa, and Trinidad & Tobago enhance Firstsource’s global delivery options and multi-lingual capabilities. Ascensos’ clients will also benefit from Firstsource’s advanced technology in Artificial Intelligence, analytics, and automation, enabling them to create more tailored solutions for the retail market.

About Ascensos

Ascensos is a global leader in customer experience management, helping brands provide outstanding customer service and engagement. As a digital-first contact services provider, Ascensos focuses on delivering high-quality, innovative solutions that add value and foster lasting relationships between businesses and their customers.

About Firstsource

Firstsource Solutions Limited, part of the RP-Sanjiv Goenka Group, is a global provider of business process services. It offers innovative solutions across the customer lifecycle in industries such as Healthcare, Banking and Financial Services, Communications, Media, Technology, and more. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.