Worldwide outsourcing solutions provider TeleTech Holdings, Inc., has acquired Philippine-based BPO company FinSource.

TeleTech, a global provider of outsourcing solutions such as customer management, BPO, and database marketing services will merge with FinSource, an end-to-end business processing solutions for leading financial services institutions.

Kenneth Tuchman, Chairman and Chief Executive Officer of TeleTech, said, "The acquisition of FinSource expands TeleTech's existing capabilities in the financial services industry and complements the comprehensive mortgage processing services we offer today."

Mohan Kulkarni, President and Chief Executive Officer of FinSource said, "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 ."