ExlService (EXLS) Acquires Datasource Consulting
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EXL (Nasdaq: EXLS) 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.
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