Firstsource completes acquisition of ISGN’s Business Process Outsourcing Division

Firstsource Group USA Inc., wholly owned subsidiary of Firstsource Solutions Limited (NSE: FSL, BSE: 532809), a RP-Sanjiv Goenka Group company and a global provider of customized Business Process Management (BPM) services, today announced that they have completed the acquisition of the BPO division of ISGN Corporation™ (“ISGN”), a leading provider of end-to-end technology solutions to the U.S. mortgage industry.

As part of this acquisition, Firstsource has acquired the outsourced mortgage origination, servicing, title, settlement services and the valuation BPO businesses of ISGN. In January this year, ISGN had announced that Firstsource has entered into a definitive agreement with them to acquire their BPO division.

“The mortgage space in the U.S. is an attractive market. Firstsource, which already has a large presence in the US healthcare and third party financial services collections segment, now enters the residential mortgage segment through this acquisition. This strategic acquisition provides us with marquee customers, strong domain expertise and significant potential opportunities for cross-selling of services. We welcome all the employees to the Firstsource family and look forward to serving our clients as a valued partner”, said Sanjiv Goenka, Chairman, RP-Sanjiv Goenka Group and Firstsource. ISGN, headquartered in the U.S. has over 950 employees working in the BPO division out of its offices in India and the U.S. and catering to over 100 clients.

About Firstsource:

Firstsource Solutions Limited, a RP-Sanjiv Goenka Group company (NSE: FSL, BSE: 532809, Reuters: FISO.BO, Bloomberg: FSOL@IN), is a leading global provider of customized Business Process Management (BPM) services to the Healthcare, Telecom & Media and Banking & Financial Services industries. The company’s clients include Fortune 500, FTSE 100 & Nifty 50 companies. Firstsource has a “rightshore” delivery model with operations in India, the Philippines, Sri Lanka, the UK and the US. (www.firstsource.com)

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