Industry

RP-Sanjiv Goenka Group plans further acquisition

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Having put Firstsource Solutions, an IT company it acquired in 2012, on the growth path the RP-Sanjiv Goenka group is now looking for further buys.

“Yes, we are on the lookout and you will hear something by March 2016,” he told The Hindu in response to a query. He declined to elaborate on this.

Reviewing the FSL’s second quarter results, Mr. Sanjiv Goenka said that the company has expanded into new verticals like e-commerce, signing contract with a top e-ecommerce player, for whom it will provide inbound customer service.

“This segment will grow, with business coming from value-added products too,” he said. FSL, is a business process management company with 23,658 employees in delivery centres in the U.K., USA Ireland, Philippines, Sri Lanka and India. It offers solutions in banking, financial services, insurance, healthcare, telecommunications and media verticals. Firstsource increased its revenues by 6.1 per cent in the quarter ended September 2015 when post tax profits rose 9.6 per cent. While 54.8 per cent of its revenues came from the USA, 37 per cent was from the U.K. and 8.2 per cent from the rest of the world including India.

Post its acquisition by the Goenkas in October 2012, FSL made a “strategic investment” in Bengaluru-based analytics company, NanoBi.

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Printable version | Jan 23, 2020 1:39:45 PM | https://www.thehindu.com/business/Industry/rpsanjiv-goenka-group-plans-further-acquisition/article7819445.ece

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