ExlService buys out research firm Inductis

Merged entity to be a new leader in the research and analytics area.

NEW DELHI: New York-headquartered ExlService Holdings Inc, a leading offshore business process outsourcing (BPO) company, on Thursday announced the acquisition of Inductis, a global professional services firm that helps large financial and insurance companies leverage strategy, analytics and technology to make better decisions. While declining to give the size of the deal, Rohit Kapoor, president, EXL said the transaction was largely equity-based.

Following the acquisition, Inductis will become a wholly-owned and independently-branded subsidiary of EXL, focusing on consulting, research and analytics. EXL’s existing research and analytics business will be combined with Inductis to create a new leader in this growth area and provide a full spectrum of knowledge services to EXL’s clients. “Going to the next growth level, the combined company will be able to effectively compete with much larger companies in delivering value to our respective clients,” claims Sandeep Tyagi, managing principal and founder of Inductis

According to EXL’s CEO and vice-chairman, Vikram Talwar, “The days of BPOs focusing only on cost reduction are over. With this acquisition, EXL plans to further our investment in assisting clients with positively impacting the topline and helping grow revenues by leveraging offshore research and analytics.”

With more than 7,000 professionals spread across five operations centers, EXL specialises in providing BPO services to the banking, financial services, insurance, and utilities industry verticals. “In evaluating the universe of high-end research and analytic companies, we found Inductis to have the critical mass of talent. We plan on building together the industry leader in strategic solutions and research and analytics that will change the industry’s perception of the complexity of work that can be delivered offshore,” says EXL’s President, Rohit Kapoor.

In 2005, Inductis achieved revenues of approximately $20 million and has 250 employees based in offices in Gurgaon, New York, New Jersey, and Singapore. Inductis counts three of the top five credit card issuers among its clients.