Firstsource looking at acquisitions in niche areas

Kolkata, Oct 27 (IANS) RP-Sanjiv Goenka Group controlled Firstsource Solutions, a global provider of business process management services, is looking at acquisitions in niche areas, a company official said on Thursday.

“We are looking at acquiring categories in niche areas such as mortgages, data analytics, adding value to customers,” said Group’s Chairman Sanjiv Goenka.

“Basically we want to add value to our customers. There will more contracts in the next two quarters, including in India,” he said.

In 2012, the group acquired Firstsource.

The company, with presence in verticals such as banking and financial services, media, healthcare and telecommunications, has also been able to bring down its outstanding debt.

From $240 million at the time of acquisition, its outstanding debt would come down to $76 million by the end of this fiscal, reducing it by $11.5 million every quarter, Goenka said.

Company’s contract pipeline at present is $332 million, that is contracts under negotiation, he said.

–IANS

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