EXL Service
{{Short description|American multinational professional services}}
{{Advert|date=May 2022}}
{{use dmy dates|date=March 2020}}
{{Infobox company
| name = ExlService Holdings, Inc.
| logo = EXL Service logo.svg
|logo_size=150px
| logo_caption =
| type = Public
| traded_as = {{ubl|{{NASDAQ|EXLS}}|S&P 400 component}}
| predecessor =
| successor =
| founders = {{ubl|Vikram Talwar|Rohit Kapoor}}
| defunct =
| fate =
| area_serve =
| key_people = Rohit Kapoor (chairman and CEO)
| genre =
| products =
| services = Data analytics and digital operations and solutions company
| revenue = {{increase}} {{US$|1.630.7 billion|link=yes}} (2023)
| owner =
| num_employees = 54,000+
| parent =
| divisions =
| subsid =
| caption =
| founded = {{Start date and age|1999|04}}
| location_city = New York City
| location_country = U.S.
| locations =
| website = {{url|www.exlservice.com}}
| footnotes =
}}
Exlservice Holdings, Inc. is a global analytics and digital solutions{{what|date=August 2023}} company serving industries including insurance, healthcare, banking and financial services, media, retail, and others.{{cite news|url=http://www.economist.com/node/3351503|title=The place to be|date=11 November 2004|work=The Economist|url-access=subscription }} The company is headquartered in New York and has more than 54,000 professionals in locations throughout the United States, Europe, Asia, Latin America, Australia and South Africa.{{Cite news|url=http://www.nearshoreamericas.com/exl-teams-carvajal-expands-latin-america/|title=EXL Teams up With Carvajal and Expands into Latin America|last=Ammachchi|first=Narayan|date=4 August 2014|work=Nearshore Americas|access-date=2017-01-01}}{{cite book|url=https://books.google.com/books?id=-ddYh0x-0vAC&pg=PA131|title=Services Offshoring and Its Impact on the Labor Market: Theoretical Insights, Empirical Evidence, and Economic Policy Recommendations for Germany|first=Deborah|publisher=Physica-Verlag (Springer)|year=2009|isbn=978-3-7908-2198-7|location=Stuttgart, Germany|page=131|oclc=310400925|via=Google Books|author=Winkler}}
EXL was co-founded in 1999 by Vikram Talwar and Rohit Kapoor.{{cite news|url=https://globenewswire.com/news-release/2013/12/18/597932/10061954/en/Vikram-Talwar-to-Retire-From-EXL-Board-of-Directors.html|title=Vikram Talwar to Retire From EXL Board of Directors|date=18 December 2013|url-access=subscription }}
Leadership
After formation in 1999, Vikram Talwar served as chief executive officer (CEO) and vice-chairman.{{Cite book|url=https://books.google.com/books?id=s66itSscKm0C|title=Plunkett's Outsourcing & Offshoring Industry Almanac 2008|publisher=Plunkett Research, Ltd.|year=2007|isbn=9781593920883|editor-last=Plunkett|editor-first=Jack W.|location=Houston, Texas|at=EXL Service Holdings Inc|oclc=953538961|via=Google Books}} Currently, Rohit Kapoor serves as the company's Chairman and CEO.{{Cite news|url=http://economictimes.indiatimes.com/tech/ites/exl-services-eyeing-us-healthcare-acquisitions/articleshow/23478816.cms|title=EXL services eyeing US healthcare acquisitions|last=Shivapriya|first=N|date=4 October 2013|work=The Economic Times|access-date=2017-01-01}} Previously, Kapoor had held the position of vice chairman and president in the company.{{Cite news|url=http://www.business-standard.com/article/technology/exl-service-acquires-kpo-firm-inductis-106071001020_1.html|title=EXL Service acquires KPO firm Inductis|last=Agarwal|first=Sapna|date=10 July 2006|work=Business Standard|access-date=2017-01-01}}
Acquisitions
In August 2001, Conseco acquired EXL and operated it as a wholly owned subsidiary. In 2002, Oak Hill Capital Partners and FTVentures acquired the company from Conseco. The company's stock started trading on the NASDAQ exchange on October 20, 2006, under the symbol EXLS.{{Cite news|url=http://www.marketwatch.com/story/outsourcing-firm-exl-service-rallies-in-debut|title=EXL Service rallies more than 20% in debut|last=Gelsi|first=Steve|date=20 October 2006|work=MarketWatch|department=IPO Report|access-date=2017-01-01}}
Shortly before EXL's debut on NASDAQ, it started down the path of growth through acquisitions with the purchase of the peer company Inductis. This acquisition was aimed at diversifying the revenue stream for EXL; prior to acquisition, 90% of EXL's revenues were from business process outsourcing (BPO), while after, BPO accounted for 70% with the balance in research and analytics and advisory services.
In 2011, EXL expanded their delivery footprint in Eastern Europe and South East Asia through acquisition of OPI.{{Cite web|url=http://www.everestgrp.com/2011-05-exl-service-acquires-opi-the-hunted-becoming-the-hunters-sherpas-in-blue-shirts-4754.html/|title=EXL Service Acquires OPI|last=Menon|first=Abhishek|date=3 May 2011|publisher=Everest Group|access-date=2017-01-01}}
In 2013, in reaction to the establishment of the Affordable Care Act and its mandate that all Americans acquire health insurance, EXL was reported to have planned a major run of acquisitions in the United States healthcare industry. At the time of this report in 2013, EXL drew roughly 10% of its revenues from the healthcare industry.
In 2014, EXL expanded into Latin America through a strategic joint venture with CT&S through which EXL's technology experience would be combined with CT&S's local knowledge and brand image. This joint venture also supported the growing customer base of EXL for Spanish-language services.
In 2018, EXL acquired SCIOInspire Holdings, expanding its healthcare analytics capabilities.{{Cite web |title=StackPath |url=https://www.hcinnovationgroup.com/population-health-management/news/13030493/exl-finalizes-acquisition-of-scio-analytics |access-date=2022-04-11 |website=www.hcinnovationgroup.com|date=3 July 2018 }}{{Cite web |title=EXL buys SCIOInspire to bulk up on healthcare analytics market |url=https://www.healthdatamanagement.com/articles/exl-buys-scioinspire-to-bulk-up-on-healthcare-analytics-market |access-date=2025-05-09 |website=Health Data Management}}
In 2021, EXL acquired Clairvoyant, adding scale in data, AI, and cloud engineering.{{Cite web |date=2021-12-22 |title=EXL Adds Scale In Data, AI, And Cloud Engineering By Acquiring Clairvoyant |url=https://analyticsindiamag.com/exl-adds-scale-in-data-ai-and-cloud-engineering-by-acquiring-clairvoyant/ |access-date=2022-04-11 |website=Analytics India Magazine |language=en-US}}{{Cite web |date=2022-03-10 |title=Clairvoyant broadens EXL’s data engineering and cloud capabilities |url=https://www.hfsresearch.com/research/clairvoyant-broadens-exls-data-engineering-and-cloud-capabilities/ |access-date=2025-05-09 |website=HFS Research |language=en-GB}}
Fact sheet
| class="wikitable"
!Year !Revenue {{Small|(million $)}} !Employees |
| 2003
| |
| 2005
| |
| 2006
| |
| 2007
| |
| 2012
|20,000 |
| 2014
|525 | |
| 2015
| |
| 2016
|25,000 |
| 2017
|28,000 |
| 2018
|>29,000 |
| 2019
|>31,000 |
| 2021
|>37,000 |
| 2022
|1,412 |>45,000 |
| 2023
|1,631 |>54,000 |
=Acquisition history=
{{More citations needed|section| date = April 2009}}
2021
EXL acquired Clairvoyant, a global data, AI, and cloud services firm, on December 20, 2021. Clairvoyant specializes in data engineering and cloud enablement, further supporting EXL's clients in insurance, healthcare, banking and financial services, and retail.{{Cite web |date=2021-12-22 |title=EXL Adds Scale In Data, AI, And Cloud Engineering By Acquiring Clairvoyant |url=https://analyticsindiamag.com/exl-adds-scale-in-data-ai-and-cloud-engineering-by-acquiring-clairvoyant/ |access-date=2022-04-12 |website=Analytics India Magazine |language=en-US}}
2018
EXL acquired SCIOInspire Holdings, a healthcare analytics company on July 2, 2018. The company, known as SCIO Health Analytics, specializes in healthcare data and analytics, with a focus on payment integrity and fraud, waste, and abuse.{{Cite web |title=StackPath |url=https://www.hcinnovationgroup.com/population-health-management/news/13030493/exl-finalizes-acquisition-of-scio-analytics |access-date=2022-04-12 |website=www.hcinnovationgroup.com|date=3 July 2018 }}
== 2015 ==
EXL acquired RPM Direct LLC and RPM Data Solutions, LLC (collectively, "RPM") on 23 March 2015. RPM specializes in analyzing large consumer-data sets to segment populations, predict response rates, forecast customer lifetime value, design and execute targeted, multi-channel marketing campaigns, especially in areas of healthcare and insurance.{{cite news|url=http://articles.economictimes.indiatimes.com/2015-02-26/news/59541655_1_46-6-crore-163-5-crore-exl-service|archive-url=https://web.archive.org/web/20150329135254/http://articles.economictimes.indiatimes.com/2015-02-26/news/59541655_1_46-6-crore-163-5-crore-exl-service|url-status=dead|archive-date=29 March 2015|title=EXL service to buy analytics company RPM Direct for Rs 460 crore|last=|date=26 February 2015|work=The Economic Times|access-date=2015-09-01}} The purchase was made in $47 million cash plus contingent cash consideration of up to $23 million and about 122,131 shares of restricted stock.{{cite press release|title=EXL Completes Acquisition of Analytics Firm RPM Direct|date=23 March 2015|publisher=EXL|url=http://ir.exlservice.com/releasedetail.cfm?releaseid=902764|access-date=2015-09-01}}
== 2014 ==
In July, EXL purchased the business process consultancy Blue Slate Solutions, which specialized in "optimizing business processes in the Healthcare industry".
In August, EXL acquired a majority stake (51%) in the business process outsourcing unit of Carvajal Technologia y Servicios (CT&S), thereby establishing a joint-venture between the two companies which would directly provide services to clients in Latin America as well as oversee global delivery of EXL's Spanish-language services.
== 2012 ==
== 2011 ==
In May, EXL had entered into a definitive agreement to acquire Outsource Partners International for US$90 million, one of the last standing pure play Finance & Accounting Outsourcing (FAO) service providers. Despite the reduction in pure play FAO service providers, at the time there were over 20 companies providing FAO services as part of their portfolio.
== 2010 and before ==
Locations
EXL has offices US, UK (London), Dublin, Ireland, India, Philippines, Czech Republic, Romania, Bulgaria, Colombia, Australia, Ireland and South Africa.{{Cite web|url=https://www.exlservice.com/locations|title=Locations|last=|date=|publisher=EXL}}
Competition
Around 2006, EXL's primary competitors were Genpact, IBM and Accenture.
{{As of|2013}}, EXL was one of the three companies offering business process outsourcing services and listed on stock exchanges in the United States, the other two being Genpact and WNS Global Services. WNS started trading in the United States in July 2006, three months before EXL joined the NASDAQ exchange.
See also
References
{{reflist}}
External links
{{Finance links
| name = ExlService Holdings, Inc.
| symbol = EXLS
| reuters = EXLS.O
| bloomberg = EXLS:US
| sec_cik = 1297989
| yahoo = EXLS
| google = EXLS:NASDAQ
}}
{{S&P 400 companies}}
{{DEFAULTSORT:Exl}}
Category:Technology companies established in 1999
Category:Publicly traded companies based in New York City
Category:Companies listed on the Nasdaq
Category:2006 initial public offerings