Firstsource Solutions Ltd arm to acquire shares of Sourcepoint

Firstsource Group USA Inc. ('FGUSA'), a subsidiary of the Company has entered into an option purchase agreement whereby FGUSA has purchased the Counterparty's option to purchase shares in Sourcepoint, Inc. ('Sourcepoint'), a subsidiary of FGUSA in exchange for a fixed consideration of USD 23 Mn (on a deferred payment basis) and a contingent consideration of up to USD 11.25 Mn based on additional revenues realised by Sourcepoint through the Counterparty.

Sourcepoint is a leading business process solutions provider to the Mortgage industry in the US. The offerings include Mortgage fulfilment services, Mortgage Services and Default solutions, Title and Closing services.

Shares of FIRSTSOURCE SOLUTIONS LTD. was last trading in BSE at Rs. 194.7 as compared to the previous close of Rs. 201.4. The total number of shares traded during the day was 752113 in over 12274 trades.

The stock hit an intraday high of Rs. 207.7 and intraday low of 192.35. The net turnover during the day was Rs. 149397561.

Source : Equity Bulls

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