BPO company ExlService Holdings today announced it will acquire finance and accounting (F&A) outsourcing service provider Outsource Partners International (OPI) for cash deal of $91 million.
"The acquisition furthers EXL's strategic objective of leveraging technology and proprietary intellectual property in our solution offerings,"said Rohit Kapoor, President and CEO of EXL in a statement. "We will also firmly establish our onshore outsourcing presence in the US, while enhancing our European and Asian delivery footprint," Kapoor added.
OPI has over 3,700 professionals globally and approximately 80 clients. "This transaction enables the logical next step in OPI's growth. I am confident it will bring tremendous benefits to OPI's clients, as well as enhance opportunities for our employees around the world," said Clarence Schmitz, Chairman and CEO of OPI.
EXL will utilise existing cash and a working capital revolver to fund the transaction, EXL said in a statement.
