Firstsource May Acquire Barclaycard's Teesside Centre
Firstsource Solution is set to buy Barclaycard's cutomer service centre in Teesside, UK.
If the deal is finalised, Firstsource will take over assets of the centre and deliver customer care for Barclays bank’s credit card and payments business in UK.
Barclaycard is a part of Barclays Global and Retail Banking division.
Firstsource had announced to set up a contact centre in Middlesbrough in UK.
Transaction Reference: ET
Founded in 2001, Firstsource provides services throughout the customer lifecycle, including customer acquisition, customer care, billing and collections, transaction processing and business research and analytics. Firstsource has a market value of $300 Mn.
Recently, KKR was rumored to acquire 68% in Firstsource Solutions from ICICI Bank, Temasek Holdings and US based banking technology company Metavante for about $250 Mn valuing Firstsource at $368 Mn.
Temasek through Aranda Investment owns 21.44% in Firstsource, while Metavante Investments owns 20% in Firstsource. ICICI Bank and its subsidiaries hold about 19.5% in the back office firm.
Rumors are also on that Carlyle Group is eyeing a controlling stake in Firstsource.
Other major shareholders are Societe Generale, Credit Suisse Singapore Ltd and Birla Sun Life Insurance Co. Ltd.
Hinduja Global Solutions Limited is also looking to acquire outsourcing firms in US and UK as a part of its plans to deploy idle cash.
| Readers' Comments | Post a Comment >> |
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 11/06/10 | Barclaycard Customer Service-Teesside - Firstsource | M&A | Firstsource Solutions Limited | - |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 08/05/12 | M&A | ICRA Techno Analytics Limited | BPA Technologies Inc. | - | Completed |
| 13/04/12 | M&A | eClerx InvestmentsLimited | Agilyst Inc | - | Completed |
| 09/03/12 | M&A | Satyam Computer Services Limited | vCustomer's International Operations | 27.00 | Completed |
| 07/03/12 | M&A | Tulip Data Centre Services Private Limited | - | Planned |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Barclays Bank Plc | ||||
| Firstsource Solutions Limited | ICICI Bank Limited ICICI Prudential Life Insurance Company Limited ICL Securities Limited |
6th Floor Peninsula Chambers, Ganpatrao Kadam Marg Lower Parel. |
RuralShore Business Services Private Limited Intelenet Global Services Private Limited Genpact India Parle Software Limited Aditya Birla Minacs Worldwide Limited Allsec Technologies Limited Quatrro BPO Solutions Private Limited Accentia Technologies Limited Hinduja Global Solutions Limited Cambridge Solutions Limited Eureka Outsourcing Solutions Private Limited |
www.firstsource.com |
| Dealforwards |  |
| May 11, 2012... | Panasonic Acquires 76.2% In Firepro Systems |
|
| May 14, 2012... | OCS Systems Acquires Lighthouse Funds Backed Radiant Hospitality |
|
| May 14, 2012...1 |  |
India Value Fund May Invest Upto R500Cr In Manipal Hospitals |
| May 14, 2012... | Jain Irrigation Acquires NaanDanJain |
|
| May 11, 2012... | EWDL To Raise R250Cr Through PE Route |
|
