TeleTech acquires BPO firm FinSource

Source: TeleTech Holdings

TeleTech Holdings, Inc. (NASDAQ:TTEC) , a global provider of customer management and business process outsourcing (BPO) services, announced the acquisition of FinSource Inc., an emerging Philippines-based business process outsourcing company.

FinSource, founded in 2003, provides end-to-end business processing solutions for some of the world's leading financial services institutions.

"The acquisition of FinSource expands TeleTech's existing capabilities in the financial services industry and complements the comprehensive mortgage processing services we offer today," said Kenneth Tuchman, Chairman and Chief Executive Officer of TeleTech. "FinSource's management team brings in-depth knowledge and practical experience in international consumer banking and we look forward to leveraging their BPO expertise in the financial services industry to further strengthen our capabilities in this sector."

"TeleTech's prestigious client base, global footprint and centralized delivery architecture coupled with our expertise in financial services, will significantly enhance FinSource's ability to scale its business and win new global BPO opportunities," said Mohan Kulkarni, President and Chief Executive Officer of FinSource. "TeleTech has a proven reputation for delivering complex front-to-back office solutions on behalf of its clients and we look forward to working with TeleTech to realize the benefits of the combined companies."

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