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New York, NY, July 7, 2009
– ExlService Holdings, Inc. (“EXL”)
(NASDAQ: EXLS), a leading provider of outsourcing
and transformation services, announced today that
it has signed a multi-year outsourcing agreement
with Schneider Logistics, a global leader in logistics
and transportation services.
As part of the transaction, EXL has acquired the
operations of Schneider Logistics, SRO in Olomouc,
Czech Republic with effect from July 3, 2009. The
facility currently provides complex transaction
processing services to Schneider and its clients
in Europe and the U.S. and has approximately 200
highly skilled employees that will transfer to EXL
as part of the transaction. Through its delivery
center in Olomouc, EXL will have access to a uniquely
qualified talent pool with strong multi-lingual
capabilities supported by a world-class university
system. The Czech Republic presents significant
growth potential enabling EXL clients to leverage
the labor pool in the Czech Republic to expand and
diversify their outsourcing operations. The Olomouc
facility will serve as EXL’s third outsourcing
service delivery location outside of India and The
Philippines and is an important step in EXL’s
strategy of providing seamless global delivery to
its clients from countries around the world.
“As we operate the business, we are always
looking for opportunities to be more efficient and
effective,” said Jack Gross, Senior Vice President,
International, Schneider Logistics. “This
agreement positions us to continue to provide customers
with excellent service while maintaining a competitive,
low-cost position in the marketplace.” According
to Mr. Gross, the new relationship means Schneider
Logistics customers will realize greater efficiencies
in their business processes, including European
freight audit and payment, logistics engineering,
carrier contracting and brokerage business. As part
of EXL, Mr. Gross observed, Olomouc-based associates
will contribute their transportation and logistics
expertise while benefiting from EXL’s unique
competencies in outsourcing solutions. The Olomouc
business also will benefit from a strong cultural
fit and EXL’s intent to build their presence
in Europe. “In evaluating this transaction
we looked for a company with a stellar reputation,
similar core values and a track record of success
for associates, customers and the business. EXL
meets all those criteria,” Mr. Gross noted.
Vikram Talwar, EXL’s Executive Chairman, stated:
“Our relationship with Schneider Logistics
is aligned with our stated objective of focusing
on select industry verticals in which we can pair
our domain and process expertise with our transformational
capabilities to deliver value to our clients. This
win represents EXL’s third client in the transportation
vertical. Our continued growth in transportation
complements our strong position in the insurance,
utilities, and banking verticals and we expect to
continue to invest in industry domain and functional
expertise to benefit our clients.”
Rohit Kapoor, EXL’s President and CEO, stated:
“Our entry into Europe marks an important
strategic achievement for EXL. We continue to grow
in a highly focused manner and believe that we are
among the most well positioned outsourcing service
providers in terms of our financial strength and
operational discipline. Despite the difficult economic
environment, we continue to invest in expanding
our range of transformation and outsourcing capabilities
on a global basis for long-term growth.”
Elaborating further, Mr. Kapoor added: “In
evaluating our investment options, we give the topmost
priority to the current and future growth requirements
of our clients. We believe our expansion into Europe
will benefit our clients by providing enhanced capabilities
in finance and accounting as well as value-added
multi-lingual capabilities. This decision will also
enable us to provide near-shore business process
outsourcing solutions to our European clients. Accordingly,
we consider this as an opportunity to better serve
our customers by bringing together the best-in-class
capabilities from across the globe. And will continue
our endeavor to Go Next.Now.”
With the acquisition of Schneider Logistics, SRO
in the Czech Republic, EXL will have twelve world-class
delivery sites located across India, The Philippines
and the Czech Republic. EXL is headquartered in
New York and has offices in New Jersey, London and
Singapore.
About ExlService Holdings,
Inc.
ExlService Holdings, Inc. (Nasdaq: EXLS) (“EXL”
or the “Company”) is a leading provider
of outsourcing and transformation services. EXL's
outsourcing services include a full spectrum of
business process outsourcing services from offshore
delivery centers requiring ongoing process management
skills. Transformation services enable continuous
improvement of client processes by bringing together
EXL's capabilities in reengineering including decision
analytics, risk and financial management and operations
and process excellence services. Headquartered in
New York, EXL primarily serves the needs of Global
1000 companies in the insurance, utilities, financial
services and transportation sectors. Find additional
information about EXL at www.exlservice.com.
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
Company's operations and business environment, all
of which are difficult to predict and many of which
are beyond the Company's control. Forward-looking
statements include information concerning the Company’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
the Company believes that these forward-looking
statements are based on reasonable assumptions,
you should be aware that many factors could affect
the Company'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
details in the Company’s filings with the
Securities and Exchange Commission, including the
Company’s Annual Report on Form 10-K for the
year ended December 31, 2008. 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 the Company. The Company has no obligation
to update any forward-looking statements after the
date hereof, except as required by federal securities
laws.
About Schneider Logistics, Inc.
Schneider Logistics, Inc. is an international logistics
provider to Global 2000 companies. Schneider Logistics
helps customers capture strategic business value
from their supply chains in the form of lower distribution
costs, reduced inventory, improved customer service
and increased availability to working capital. The
company provides end-to-end supply chain management,
warehousing, transloading, transportation management
and international logistics services.
Schneider Logistics is a wholly owned subsidiary
of Schneider National, a premier provider of truckload,
intermodal and logistics services. Headquartered
in Green Bay, Wis., Schneider National has provided
expert logistics and transportation solutions for
nearly 75 years. A $3.7 billion company, Schneider
National conducts business in more than 28 countries
in North America, Europe and Asia, and continues
to grow its international service offerings. For
more information about Schneider Logistics, visit
www.schneider.com
.
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