Business Process Management (BPM) services firm Firstsource Group has completed the acquisition of the BPO division of ISGN Corporation, a US-based mortgage technology and services firm
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. However, the two companies did not disclose the size of the deal.
The mortgage space in the U.S. is an attractive market. Firstsource, which already has a significant 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”, Sanjiv Goenka, chairman, RP-Sanjiv Goenka Group and Firstsource, said in a statement.
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.