Mumbai : Firstsource Solutions Limited (NSE: FSL, BSE:532809), a global provider of business process management (BPM) services and a RP-Sanjiv Goenka Group company on Thursday announced it has entered into an agreement to acquire American Recovery Services Inc. (ARSI), a nationwide legal collections network headquartered in Southern California for a cash consideration of USD 53 million.
The acquisition enhances Firstsource’s leadership in consumer debt management services by adding legal stage collections capabilities. The debt collections market is a significant part of the consumer credit ecosystem with evolving regulatory demands. 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.
California based ASRI has provided legal collection services for over three decades through its nationwide partner network and in-house experts. Its revenue for the 12 months ended 30th September 2021 is approximately USD 72.5 million
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. By adding ASRI’s deep domain expertise to their portfolio of services, Firstsource will now be able to help clients navigate the more complex legal collections process, all from under one roof.
“Firstsource is a leader in consumer debt receivables management and the acquisition of ARSI adds a topnotch legal network; we can now provide a broad platform and one-stop shop to large financial institutions and the burgeoning fintech market. We are delighted to welcome ARSI to the Firstsource family,” said Vipul Khanna, MD & CEO of Firstsource Solutions