Firstsource: Difference between revisions

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'''Firstsource Solutions Limited''' is an [[India]]nIndian business process management company headquartered in [[Mumbai]], [[India]]. It is owned by [[RPSG Group|RP-Sanjiv Goenka Group]].<ref name=sr/> Firstsource provides business process management in the banking and financial services, customer services, telecom and media, and healthcare sectors. Its clients include financial services, telecommunications and healthcare companies. Firstsource hosts operations in India, US, UK, and the Philippines.

== History ==

Firstsource started its operations in 2001 as ICICI InfoTech Upstream Ltd, a business process outsourcing organisation wholly owned by ICICI Bank, India’s largest private financial services organisation. Its name was changed to Firstsource Solutions Limited in 2006.<ref>{{Cite news|title=ICICI OneSource is now Firstsource|work=The Economic Times|url=https://economictimes.indiatimes.com/tech/ites/icici-onesource-is-now-firstsource/articleshow/544517.cms?from=mdr|access-date=2021-11-29}}</ref> The same year, Firstsource opened a branch office in the Philippines.<ref name=":0" /> In 2007, it became a public company listed on the Indian Stock Exchange.<ref>{{Cite web|title=Firstsource Solutions IPO Review - Firstsource Solutions IPO Dates, Issue Price, Subscription and Allotment Status|url=https://economictimes.indiatimes.com/firstsource-solutions-ltd/ipos/companyid-99.cms|access-date=2021-11-29|website=The Economic Times}}</ref>

=== Acquisitions ===

In 2002, the company acquired Customer Asset.com with its two subsidiaries and Tawny Dove Ltd. One year later they acquired FirstRing India Pvt Ltd to gain customer acquisition and credit card services capabilities. In 2005, they acquired RevIT to expand their services into the healthcare sector.<ref name=":0" /> One year later, in December 2006, they acquired Business Process Management Inc (BPM) with the aim to enhance the company capabilities in the healthcare sector.<ref name=":0" /> In November 2021, Firstsource announced to acquire the US mortgage services provider The StoneHill Group.<ref>{{Cite news|title=Firstsource Solutions transitioning from being a BPO player to a platform player: Sanjiv Goenka|work=The Economic Times|url=https://economictimes.indiatimes.com/markets/expert-view/firstsource-solutions-transitioning-from-being-a-bpo-player-to-a-platform-player-sanjiv-goenka/articleshow/87625117.cms?from=mdr|access-date=2021-11-29}}</ref><ref>{{Cite web|title=Firstsource Solutions' step-down subsidiary Sourcepoint to acquire US-led The StoneHill Group|url=https://www.indiainfoline.com/article/news-top-story/firstsource-solutions-step-down-subsidiary-sourcepoint-to-acquire-us-led-the-stonehill-group-121111100576_1.html|access-date=2021-11-29|website=www.indiainfoline.com|language=en}}</ref>

===Public offer===

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== Structure ==

The RP-Sanjiv Goenka Group owns a 53.96% share of Firstsource through a subsidiary.<ref name=sr/> Firstsource expanded with the acquisition of ISGN in 2016, which was rebranded as Sourcepoint in 2019.<ref>{{cite web|title=ISGN Rebrands as Sourcepoint|url=https://nationalmortgageprofessional.com/news/70182/isgn-rebrands-sourcepoint|publisher=NationalMortgageProfessional.com}}</ref> As of March 2018, Firstsource had 15 subsidiaries and 1 associate company. Their 37 global operation centers are located across India, US, UK, and Philippines. The company provides services mostly to clients in United States and the United Kingdom.<ref name=":0">{{Cite news|title=Firstsource Solutions Ltd.|work=Business Standard India|url=https://www.business-standard.com/company/firstsour-solu-24882/information/company-history|access-date=2021-09-01}}</ref>

== See also ==