EXL acquires ITI Data to expand data management capabilities in banking and healthcare

Investment accelerates EXL’s data and AI-led strategy by adding new Global 1000 clients in the U.S., Europe and Australia 

NEW YORK, Aug. 1, 2024 - EXL [NASDAQ: EXLS], a leading data analytics and digital operations and solutions company, announced the acquisition of ITI Data, a data management solutions firm that works with the world’s largest banks, financial services and healthcare companies.

Founded in 1999, ITI Data is headquartered in New York City and has offices in the U.K., Australia and India. The company delivers enterprise business solutions for clients processing significant data volumes with complex data management requirements. With a broad range of business and technology experience, ITI has enabled its clients to manage and consolidate enterprise data, improve business process efficiency, and deliver significant return on investment of their data operations and technology initiatives. ITI Data has deep experience in data management, governance, risk, regulatory and compliance solution delivery with the world’s largest banks, financial services and healthcare companies.

“Our acquisition of ITI Data brings a highly specialized set of data management and governance capabilities – and a team of data scientists and engineers with deep domain expertise – into EXL’s robust data management foundation,” said Vivek Jetley, president and head of analytics at EXL. “This will enhance our ability to deliver reliable, data-driven insights to our clients and ultimately drive greater value and innovation across our operations.”

“I am excited about the combination with EXL, as this will open up tremendous opportunities for ITI Data’s current clients to leverage broader AI offerings, technologies, and data-driven capabilities,” said Brian Vaske, chairman and chief executive officer of ITI Data. “All our colleagues at ITI Data now have the opportunity to participate in the career development available at EXL. I look forward to combining forces to accelerate growth and enhance EXL’s already prestigious position in the market.”

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About ExlService Holdings, Inc.

EXL (Nasdaq: EXLS) is a leading data analytics and digital operations and solutions company. We partner with clients using a data and AI-led approach to reinvent business models, drive better business outcomes and unlock growth with speed. EXL harnesses the power of data, analytics, AI, and deep industry knowledge to transform operations for the world’s leading corporations in industries including insurance, healthcare, banking and financial services, media and retail, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have more than 55,000 employees spanning six continents. For more information, visit  www.exlservice.com.

Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’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 EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’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, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation, recessionary economic trends, and ability to successfully integrate strategic acquisitions, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. 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 EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by applicable law.