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videos | IST

Firstsource buys out American Recovery Service for $53 million

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Firstsource Solutions has acquired a 100 percent stake in American Recovery Services for $53 million, and the payout will take place in cash.

Firstsource Solutions has acquired a 100 percent stake in American Recovery Services for $53 million, and the payout will take place in cash.
Firstsource Solutions Limited is a global provider of business process management (BPM) services. The acquired company is a legal collection service provider.
This acquisition will help the company recover some of its dues, it will help in its debt collection capabilities.
The payout stands at $53 million, and the acquired company had revenues of 72.50 million dollars for the recent year ending.
Watch the accompanying video of CNBC-TV18’s Reema Tendulkar for more details.