ExlService (EXLS) Acquires IQR Consulting

September 6, 2016 8:41 AM EDT

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EXL (NASDAQ: EXLS), a leading Operations Management and Analytics company, today announced that it has acquired IQR Consulting Inc., a U.S.-based provider of marketing and risk analytics solutions for the banking industry. With a global delivery model and marquee clients across the United States, IQR will help EXL accelerate its analytics growth in the banking and financial services industry.

Rohit Kapoor, EXL Vice Chairman and Chief Executive Officer stated, “Analytics is a key growth driver for EXL, and we continue to build what is already a world-class franchise in the banking vertical. IQR has astutely figured out how to engage with clients in the super-regional bank and credit union markets. We look forward to expanding this largely under-penetrated segment, and believe we can help IQR’s clients achieve even greater success through the use of analytics.”

“At IQR, we are passionate about using data analytics to solve real business problems for our clients and help them create growth opportunities,” said Rahul Nawab, Chief Executive Officer of IQR. “EXL is a world-class service provider to the banking industry and a recognized leader in analytics. We are excited to join with EXL and to deliver even greater value to our clients.”

From marketing optimization and customer segmentation to scoring risk and predicting fraud, IQR possesses a strong track record in delivering actionable insights for clients. By developing predictive algorithms and creating real-time reporting tools, IQR enables its clients to make timely decisions that yield tangible business impact.

“IQR has amassed a wealth of expertise in banking and financial services, which is a core vertical for EXL,” said Pavan Bagai, President and Chief Operating Officer, EXL. “We expect to help IQR create more value for clients by enhancing customer satisfaction, increasing revenue growth and minimizing risk. In addition, we are excited to establish a presence in Ahmedabad, which will enable EXL to tap into a deep talent pool for data scientists.”

IQR will become part of EXL Analytics and maintain its delivery hub in Ahmedabad, India. EXL was represented in the transaction by Ropes & Gray LLP. Terms of the transaction were not disclosed.

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