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New York, July 6th, 2006 - ExlService Holdings,
Inc., a leading offshore business process outsourcing
company, announced today the acquisition of Inductis,
a leading strategy and analytics company serving
the financial services and insurance industries,
as it continues to invest in world-class offshore
analytical outsourcing and strategic solution delivery
capabilities.
As a result of the acquisition, Inductis will become
a wholly owned and independently branded subsidiary
of EXL, focusing on Consulting and Research and
Analytics. EXL's existing Research and Analytics
business will be combined with Inductis to create
a new leader in this exciting growth area and provide
a full spectrum of knowledge services to EXL's clients.
In 2005, Inductis achieved revenues of approximately
$20 million. Inductis is one of the largest and
most successful analytics players with a global
delivery model in the marketplace today with 250
employees based in offices in Gurgaon, New York,
New Jersey, and Singapore.
"The Inductis
and EXL combination will create a company equally
strong in creating solutions and delivering them.
This will allow the combined company to effectively
compete with much larger companies in delivering
value to our respective clients. For Inductis, we
will now have the platform to grow faster and further
invest in training and development of our people,
client relationships, and intellectual property.
There is a winning chemistry between our management
teams that is going to provide ongoing benefits
to our combined client base for many years to come.,"
says Sandeep Tyagi, Managing Principal and Founder
of Inductis.
In discussing the diverse capabilities of the new
combined knowledge services organization, EXL's
Head of Operations, Pavan Bagai states, "The
combination of Inductis' strong capabilities in
quantitative analytics and knowledge of business
intelligence platforms, with EXL's existing base
of services and clients in asset management, investment
banking, and private equity, makes for a formidable
and compelling business proposition. We believe
that by integrating all of our research and analytics
capabilities under the Inductis subsidiary, we will
create the best atmosphere for growth and development
of our employees and provide world-class intellectual
capital deployment for our combined client base."
In discussing the strategic rationale behind the
transaction, EXL's CEO and Vice-Chairman, Vikram
Talwar states, "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 top-line and
helping grow revenues by leveraging offshore research
and analytics. The impressive team Inductis has
assembled, both onshore and offshore, combined with
their modeling capabilities and domain expertise,
will be a huge competitive advantage for our clients
in the marketplace."
"In evaluating
the universe of high-end research and analytic companies,
we found Inductis to have the critical mass of talent,
as well as the management team and delivery capabilities
for complex strategic solutions to effectively serve
our clients' needs as they think about BPO more
strategically. We plan on building together the
industry leader in strategic solutions and research
& analytics that will change the industry's
perception of the complexity of work that can be
delivered offshore," says EXL's President,
Rohit Kapoor.
Inductis focuses on analytical consulting, management
consulting, and analytical services. Key analytical
consulting focus areas include marketing analytics
such as customer acquisition and retention, credit
risk analytics, customer data integration and fraud
detection. Management consulting offerings include
marketing strategy, product and service strategy,
re-engineering, global resource optimization and
outsourcing. Analytic services offerings include
analytics staff augmentation, lead generation and
marketing campaign management, collections analytics
services, primary and secondary research, data management
and analysis. Inductis offerings emphasize unique
domain expertise in financial services and insurance,
complemented by advanced quantitative modeling techniques
and knowledge of relevant technology platforms such
as SAS and business intelligence toolsets. Inductis
counts three of the top 5 credit card issuers, two
major retail brokerage and asset management companies,
a top 25 FTSE bank, a large commercial insurer,
and a top 5 health insurer among its many clients.
Inductis has won several awards in the analytics
space. Most recently Inductis was ranked joint #1
in the data mining challenge organized with the
ECML / KDD conference in Berlin in June 2006. Earlier,
Inductis was a runner-up in the PAKDD data mining
competition held in Singapore. Also, last year,
Inductis was a finalist in a DMReview competition
in data integration.
EXL is a leading provider of offshore Business Process
Outsourcing solutions to the Global 1000. EXL is
an organization that strives to build lasting relationships
with its clients based on consistent high-quality
service delivery, trust, and confidence that is
unparalleled in the BPO industry today. With more
than 7,000 professionals spread across five operations
centers, EXL specializes in providing BPO services
to the Banking, Financial Services, Insurance, and
Utilities industry verticals. EXL is headquartered
at 350 Park Avenue, New York, NY.
Inductis is a global professional services firm
that helps large companies leverage strategy, analytics
and technology to make better decisions. Inductis
was founded by an experienced team of finance, technology,
marketing and operations professionals with years
of consulting, data analysis, technology and outsourcing
experience. Inductis specializes in identifying
high-impact problems and opportunities where they
can generate results quickly, creating immediate
and lasting value. Inductis has served some of the
largest and most sophisticated companies in the
world across a range of industries, including financial
services (credit cards, retail lending, and asset
management), insurance, information services, entertainment
and travel. Inductis is headquartered in New Jersey
and has offices in New York, Gurgaon, and Singapore.
The name, Inductis, comes from inductive
logic - proceeding from particular facts
to a general conclusion - and from the Latin induco:
to bring forward, to induce, to lead.
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