EXL Service
Type | Public |
---|---|
Nasdaq: EXLS S&P 600 component | |
Founded | April 1999 |
Founder | Vikram Talwar Rohit Kapoor |
Headquarters | 320 Park Avenue, , |
Key people | Garen Staglin, Chairman Rohit Kapoor, Vice Chairman & CEO |
Services | Business Process Management- Operations Management & Analytics |
Revenue |
|
Number of employees | 31,000+ |
Website | EXLService.com |
EXL Service is an American multinational professional services company mainly involved in the operations management and analytics. EXL offers insurance, banking, financial services, utilities, healthcare, travel, transportation and logistics services.[1] The company is headquartered in New York and has more than 31,000 professionals in locations throughout the United States, Europe, Asia, Latin America, Australia and South Africa.[2][3][4]
EXL was co-founded in 1999 by Vikram Talwar and Rohit Kapoor.[5]
After formation in 1999, Vikram Talwar served as chief executive officer (CEO) and vice-chairman.[6][7] Currently, Rohit Kapoor is serving as the company's CEO and Vice-Chairman.[8] Previously, Kapoor had held the position of president in the company.[6][9]
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.[7] The company's stock started trading on the NASDAQ exchange on October 20, 2006 under the symbol EXLS.[7]
Shortly before EXL's debut on NASDAQ, it started down the path of growth through acquisitions with the purchase of the peer company Inductis.[9] 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.[9]
In 2011, EXL expanded their delivery footprint in Eastern Europe and South East Asia through acquisition of OPI.[10]
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.[8] At the time of this report in 2013, EXL drew ~10% of its revenues from the healthcare industry.[8]
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.[2] This joint venture also supported the growing customer base of EXL for Spanish-language services.[2]
Fact Sheet[]
Year | Revenue
(million $) |
Employees |
---|---|---|
2003 | 9 (est)[7] | |
2005 | 27.7[7] | |
2006 | 5,500[11] | |
2007 | 8,200[6] | |
2012 | 443[8] | 20,000 |
2014 | 525 | |
2015 | 628.5[12] | |
2016 | 686.0[13] | 25,000 |
2017 | 762.3[14] | 28,000 |
2018 | 883.1[15] | >29,000 |
2019 | 991.3[16] | >31,000 |
Acquisition History[]
This section needs additional citations for verification. (April 2009) |
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.[17] 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.[18]
2014[]
In July, EXL purchased the business process consultancy Blue Slate Solutions, which specialized in "optimizing business processes in the Healthcare industry".[2]
In August, EXL acquired a majority stake (51%) in the business process outsourcing unit of (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.[2]
2012[]
In October, EXL acquired Landacorp, a provider of healthcare solutions and technology.[19]
2011[]
In May, EXL had entered into a definitive agreement to acquire Outsource Partners International for US$90 million,[8] one of the last standing pure play Finance & Accounting Outsourcing (FAO) service providers.[10] 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.[10]
2010 and before[]
In July 2006, EXL acquired Inductis for $20 million.[9] Inductis and EXL both had expertise and services in the same areas, were similarly structured, and were headquartered in the United States with services delivered primarily out of India.[9]
Locations[]
EXL has offices in US, UK (London), India, Philippines, Czech Republic, Romania, Bulgaria, Colombia, Australia and South Africa.[20]
Competition[]
Around 2006, EXL's primary competitors were Genpact, IBM and Accenture.[9]
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.[8] WNS started trading in the United States in July 2006, three months before EXL joined the NASDAQ exchange.[7]
See also[]
References[]
- ^ "The place to be". The Economist. 11 November 2004.
- ^ Jump up to: a b c d e Ammachchi, Narayan (4 August 2014). "EXL Teams up With Carvajal and Expands into Latin America". Nearshore Americas. Retrieved 1 January 2017.
- ^ Winkler, Deborah (2009). Services Offshoring and Its Impact on the Labor Market: Theoretical Insights, Empirical Evidence, and Economic Policy Recommendations for Germany. Stuttgart, Germany: Physica-Verlag (Springer). p. 131. ISBN 978-3-7908-2198-7. OCLC 310400925 – via Google Books.
- ^ "About EXL".
- ^ "Vikram Talwar to Retire From EXL Board of Directors". 18 December 2013.
- ^ Jump up to: a b c Plunkett, Jack W., ed. (2007). Plunkett's Outsourcing & Offshoring Industry Almanac 2008. Houston, Texas: Plunkett Research, Ltd. EXL Service Holdings Inc. ISBN 9781593920883. OCLC 953538961 – via Google Books.
- ^ Jump up to: a b c d e f Gelsi, Steve (20 October 2006). "EXL Service rallies more than 20% in debut". IPO Report. MarketWatch. Retrieved 1 January 2017.
- ^ Jump up to: a b c d e f Shivapriya, N (4 October 2013). "EXL services eyeing US healthcare acquisitions". The Economic Times. Retrieved 1 January 2017.
- ^ Jump up to: a b c d e f Agarwal, Sapna (10 July 2006). "EXL Service acquires KPO firm Inductis". Business Standard. Retrieved 1 January 2017.
- ^ Jump up to: a b c Menon, Abhishek (3 May 2011). "EXL Service Acquires OPI". Everest Group. Retrieved 1 January 2017.
- ^ DQI Bureau (20 November 2006). "Rank 13 – EXL Service: Growth Gaps". Dataquest. Retrieved 1 January 2017.
- ^ "EXL Reports 2015 Fourth Quarter and Full Year Results". exlservice. 23 February 2016. Retrieved 1 January 2017.
- ^ "EXL Reports 2016 Fourth Quarter and Full Year Results". exlservice. 28 February 2017. Retrieved 1 January 2017.
- ^ "EXL Reports 2017 Fourth Quarter and Full Year Results". exlservice. 27 February 2018. Retrieved 1 January 2017.
- ^ "EXL Reports 2018 Fourth Quarter and Full Year Results". exlservice. 28 February 2019. Retrieved 1 January 2017.
- ^ "EXL Reports 2019 Fourth Quarter and Full Year Results". exlservice. 27 February 2020. Retrieved 1 January 2017.
- ^ "EXL service to buy analytics company RPM Direct for Rs 460 crore". The Economic Times. 26 February 2015. Retrieved 1 September 2015.
- ^ "EXL Completes Acquisition of Analytics Firm RPM Direct" (Press release). EXL. 23 March 2015. Retrieved 1 September 2015.
- ^ "Exl Acquires Landacorp To Provide A Comprehensive Suite Of Operations, Analytics And Technology Solutions For The Healthcare Industry" (Press release). . 15 October 2012. Archived from the original on 9 March 2013. Retrieved 19 October 2012.
- ^ "Locations". EXL.
- Technology companies established in 1999
- Publicly traded companies based in New York City
- Analytics companies
- Companies listed on the Nasdaq
- 2006 initial public offerings
- 1999 establishments in New York (state)