NEW YORK, Oct. 27, 2016 (GLOBE NEWSWIRE) -- EXL (NASDAQ:EXLS), a leading Operations Management and Analytics company, today announced that it has acquired Datasource Consulting, LLC, a Denver-based company specializing in Enterprise Data Management and Business Intelligence. The acquisition enhances EXL’s capabilities to advise clients on data management and governance strategies, architect and implement their data infrastructures, and manage their data assets on an ongoing basis.
Rohit Kapoor, EXL Vice Chairman and Chief Executive Officer stated, “This acquisition broadens EXL’s market-leading Analytics capabilities by combining data strategy and management solutions with our proprietary data assets and advanced analytics capability. The Datasource acquisition creates new entry points into client relationships earlier in the analytics value chain, which we expect will further drive additional opportunities for our Analytics services.”
“Datasource brings to the table a broad expertise with best-of-breed technologies, proven methodology, highly experienced consultants, thought leadership, and a passion for data,” said Steve Dine, Founder and Chief Executive Officer, Datasource. “We are excited to join EXL, a world-class global services provider, and recognized leader in advanced predictive and prescriptive analytics. Our combined capabilities will deliver powerful value to our clients and provide true end-to-end Enterprise Data Management services that are unmatched in the market.”
Datasource Consulting provides full lifecycle EDM and BI solutions, including data architecture, data integration, data quality, master data management, data governance, test data management, reporting and analytics, and program management. Experienced in diverse technology environments, Datasource consultants have the resources to implement and optimize flexible, tailor-made solutions for any client engagement.
“We expect to be able to offer a broader range of services to our clients with an ability to help them conceptualize and implement their data strategies as well as manage their data infrastructure for them,” said Pavan Bagai, President and Chief Operating Officer, EXL. “The talented team at Datasource significantly expands our expertise in designing solutions for real-time data integration, implementing BI software suites, and building technology-enabled analytics products.”
In connection with the acquisition, EXL has made employment inducement equity awards to 4 new non-executive employees. The equity awards cover an aggregate of 93,604 shares of EXL restricted stock, and are being made as a material inducement to employees entering into employment with EXL in connection with the acquisition. The new restricted stock awards will vest over a period of four years, subject to continued employment with EXL on the applicable vesting date. Clearsight Advisors, Inc. served as the exclusive strategic and financial advisor to Datasource in the transaction.
About EXL
EXL (NASDAQ:EXLS) is a leading operations management and analytics company that helps businesses enhance growth and profitability in the face of relentless competition and continuous disruption. Using our proprietary award-winning Business EXLerator Framework™, which integrates analytics, automation, benchmarking, BPO, consulting, industry best practices and technology platforms, EXL looks deeper to help companies improve global operations, enhance data-driven insights, increase customer satisfaction, and manage risk and compliance. EXL serves the insurance, healthcare, banking and financial services, utilities, travel, transportation and logistics industries. Headquartered in New York, New York, EXL has approximately 25,000 professionals in locations throughout the United States, Europe, Asia (primarily India and Philippines), Latin America, Australia and South Africa. For more information, visit www.exlservice.com.
About Datasource Consulting, LLC
Datasource Consulting is a consulting company that focuses exclusively on Enterprise Data Management and Business Intelligence, including both strategic and implementation services. They are experts in data warehousing, data architecture, data governance, data integration, data quality, MDM (master data management), reporting & analytics, and program management. Founded in 2005, the company has offices in both Denver and San Diego. To learn more about Datasource Consulting, visit us at www.DatasourceConsulting.com, or contact us at info@datasourceconsulting.com.
Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to the EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL's control. Forward-looking statements include information concerning EXL's possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL's actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors are discussed in more detail in EXL's filings with the Securities and Exchange Commission, including EXL's Annual Report on Form 10-K for the year ended December 31, 2015. These risks could cause actual results to differ materially from those implied by forward-looking statements in this release. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.