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ISGN Corporation has announced that it has completed the sale of its business unit, ISGN Solutions, which performs Business Process Outsourcing (BPO) services, to Firstsource Group USA Inc., a wholly-owned subsidiary of Firstsource Solutions Limited, a RP-Sanjiv Goenka Group Company and global provider of customized Business Process Management (BPM) services.
On Jan. 28, Firstsource entered into a definitive agreement to acquire ISGN’s BPO services subsidiary company. As part of the transaction, Firstsource has acquired the outsourced mortgage origination and mortgage servicing, title and settlement services and the valuation business of ISGN.The new entity will continue to use the ISGN Solutions Inc. brand.
“The completion of the sale enables ISGN to focus on delivering next-generation technology built on over three decades of expertise to our customers. We are committed to providing world-class products that drive the success for our mortgage eco-system,” said Amit Kothiyal, CEO of ISGN. “Our industry profitability continues to face challenges. This, coupled with a heavily regulated mortgage environment, has created a strong need for technology innovation. ISGN is making this a focal point for our business and aims to continue engineering state-of-the-art technology to transform our industry.”