Firstsource Group USA, Inc., wholly owned subsidiary of Firstsource, a RP-Sanjiv Goenka Group Company and a global provider of customized Business Process Management (BPM) services, has signed a definitive agreement with the US-based ISGN Corporation™ (ISGN), to buy its Business Process Outsourcing (BPO) business.
The transaction is subject to customary closing conditions and is expected to close within the next four months. This transaction includes outsourced mortgage origination and mortgage servicing, title and settlement services and the valuation business of ISGN.
Firstsource specializes in BPM solutions that serve organizations in the banking, financial services, insurance, healthcare, telecommunications and media verticals.
“The acquisition marks Firstsource’s penetration into the growing U.S. mortgage BPO market. ISGN’s deep knowledge in the mortgage outsourcing space coupled with a set of marquee customers provides us with significant opportunities to cross-sell capabilities and leverage our global relationships. We welcome ISGN employees to the Firstsource family and wish them continued success,” said Sanjiv Goenka, chairman of Firstsource.
Strengthening Firstsource’s services capabilities and offerings suite, this acquisition provides clients with a competitive and adaptive edge in a market that is constantly witnessing regulatory changes and evolving customer behavior.
“We are extremely excited by this transaction and the capabilities that Firstsource brings to our prestigious client base. The global capabilities of Firstsource coupled with the domain depth of ISGN represents a winning combination for the market that is seeking transformation solutions,” said Amit Kothiyal, CEO of ISGN. “We are very pleased with this outcome and the value it brings to both our clients and our talented team.”
ISGN retains a robust mortgage technology lending solutions portfolio, including its next-generation LoanDynamix™ servicing system, Tempo™ default management system, LoanMomentum™ construction loan servicing system, Gators® vendor management and settlement services system, as well as compliance technology, CFPB Compliance RiskCheck™.
ISGN is a leading end-to-end provider of mortgage technology, impacting over 5.5 million of all U.S. mortgage loans. fii-news.com
