Firstsource has acquired the UK company Ascensos in a deal worth $56 million.

The RP-Sanjiv Goenka group's Firstsource Solutions announced on Monday that it has acquired Ascensos, a UK-based customer experience outsourcing partner specializing in retail and eCommerce, for £42 million ($55.9 million). In a regulatory filing, the business process management (BPM) firm stated that this acquisition will support its strategic expansion into the retail sector and enhance its nearshore and multilingual service capabilities. 

The UK subsidiary of Firstsource, Firstsource Solutions UK Limited, has signed a share purchase agreement with Ascensos Limited's shareholders to acquire 100% ownership of the company. Once the transaction is finalized, Ascensos will become a subsidiary of Firstsource's UK arm and, in turn, a step-down subsidiary of the parent company. Ascensos will continue to operate independently under its own brand and maintain its headquarters in Scotland, leveraging the combined technology and expertise to better serve the retail sector. John Devlin will remain as CEO, ensuring continuity for Ascensos' clients.