EXL to earmark USD200m for acquisitions

EXL, an Indian business process outsourcing (BPO) firm, is planning to spend USD200m to acquire firms in the field of insurance, banking and analytics. The company, which has about 5,000 employees in the Philippines, announced its spending plan as it looks to strengthen its core verticals. EXL CEO and vice-chairman, Rohit Kapoor, said the plan is to buy companies that cost between USD25m and USD50m, although the company will also consider doing companies that are larger in size. The areas where EXL is looking to acquire companies are analytics, banking and insurance. At the end of June, EXL acquired Liss Systems. In July, it bought IQR Consulting, a provider of marketing and risk analytics solutions. Kapoor said the company has about 24,000 employees.