Firstsource Solutions acquires American Recovery Services

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Firstsource Solutions on Thursday said it has entered into an agreement to acquire American Recovery Services Inc (ARSI), a nationwide legal collections network headquartered in Southern California.

The acquisition enhances Firstsource's leadership in consumer debt management services by adding legal stage collections capabilities, Firstsource said in a regulatory filing.

"The debt collections market is a significant part of the consumer credit ecosystem with evolving regulatory demands. Both ARSI and Firstsource are pioneers in driving best-in-class debt recovery compliance, using advanced technology and emphasising a positive consumer experience," it added.

ASRI has provided legal collection services for over three decades through its nationwide partner network and in-house experts.

"By adding ASRI's deep domain expertise to their portfolio of services, Firstsource will now be able to help clients navigate the more complex legal collections process, all from under one roof," it said.

Firstsource Solutions is a global provider of business process management (BPM) services and a RP-Sanjiv Goenka Group company.