Firstsource

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. Company’s name was later changed to ICICI

OneSource Limited before it adopted its current name as Firstsource Solutions Limited in 2006. The same year, Firstsource opened a branch office in the Philippines. Firstsource made an initial public offer in 2007 and was listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) in India on 22 February 2007.

Acquisitions

In 2002, the company acquired CustomerAsset and Tawny Dove Ltd. One year later, it acquired FirstRing India Pvt Ltd, a contact centre company. In 2005, it acquired healthcare services provider RevIT. In December 2006, it acquired Business Process Management Inc (BPM). Firstsource acquired ISGN in 2016, which was rebranded as Sourcepoint in 2019.

In November 2021, Firstsource announced to acquire the US mortgage services provider The StoneHill Group. In May 2024, Firstsource acquired Chennai-based medical billing firm Quintessence Business Solutions & Services (QBSS) for ₹327.8 crore (approximately US$39 million). The acquisition included its US arm, Quintessence Health LLC, which became a step-down subsidiary.

In September 2024, Firstsource acquired UK-based customer experience provider Ascensos for £42 million (approximately US$56 million). Ascensos continues to operate independently as a business unit headquartered in Scotland.